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BUZZ-WPP: momentum trade running out of steam

Reuters - UK Focus

** WPP (LSE: WPP.L - news) rally running out of steam with some traders looking to short after stock fails to break recent highs

** Relative strength stuck in a downtrend YTD despite a 15 pct rise in shares, resistance at 1589p. Chart: http://link.reuters.com/jav74w

** Sell-side overwhelmingly skewed to buy (19 "buy", 10 "hold", 2 "sell"), but price targets suggest lack of conviction

** Average analyst sees 6 pct upside to current share price

** Key beneficiary of stronger dollar trade on the upside (34 pct revenues US) but has so far avoided falls seen by other USD earners as currency had sold off

(RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)