Data Breach At Dixons Carphone

Wednesday, 13th June 2018 10:37 - by Rajan Dhall

This morning Dixons Carphone have issued a statement relating to the theft of customer data from processing systems of Currys PC World and Dixons Travel stores. They go on to say that 'Approximately 105,000 non-EU issued payment cards which do not have chip and pin protection have been compromised'.

This is another serious blow for the electrical retailer who have been seriously struggling as the high st. crumbles and the Co. recently issued a profit warning. Rubbing salt into the would it seems that separately, the investigation has found that 1.2m records containing non-financial personal data - such as name, address and email - had been accessed although the company have said there is no evidence of fraud at this stage.

In terms of price action you can see below its a pretty bearish chart. I have noted the most recent low from 2011 on the weekly chart which was at the 120.25p level but if you go further back there is support at 82.50p. In this weekly chart we had seen a rebound of late but todays news may add on some pressure to the stock. If this is the case the first point of call would be the 172p area, it held as strong support on the last wave down and beyond that the 147p area is the next support on my radar. 

The Writer's views are their own, not a representation of London South East's. No advice is inferred or given. If you require financial advice, please seek an Independent Financial Adviser.