Shares up 1.8% on the day. Continuing momentum following 2024 upbeat forecasts

Taking a look at Pearson after its share price seems like it may have broken out to the upside after moving sideways since November. Currently, its share price is trading at around 1033p a share, From a technical aspect, we can see that the price has moved above the resistance of 1006p, which now creates a possible runway towards the area of 1050-1100p. The previous resistance of 1006p is now acting as the first line of support here. Upon a breakout, some markets tend to pull back towards the newly formed support for a test. If established, a leg higher usually follows. Therefore, a break below this support would suggest that the support isn’t strong enough yet. If we saw a move below 1006p then the next area in focus would be 975-977p. Looking at the technical indicators, the MACD has now turned positive and so is the RSI as it reads 70.