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Neighbour: Selling Aviva as FTSE 100 trends lower

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The FTSE 100 is trending lower and Joe Neighbour is therefore looking for opportunities to sell. He believes Aviva is a good candidate to short.

According to Neighbour, shares in the insurance company have completed a large top pattern on the daily chart on a move below 480p, which is now acting as resistance. On a relative basis, the stock has been performing poorly and hitting new lows, he adds.

Neighbour is looking to sell at around 472p, targeting a move down to around 420 with a stop loss at around 500p.