Stock pick for tomorrow

Stock : Diageo Plc

RECOMMENDATION : BUY

TARGET 1855

Diageo Plc is looking good for buying ,the major trend of stock is bearish but it's showing accumulation from bottom and gaining strength for buying. Stock is facing resistance from 89 EMA breaching of it can show upside movement.Stock is shoeing bounce from bottom if it manages to consolidate near to the resistance level One can initiate the long position in the stock above the level of 1785 with stop loss of 1745 for the target of 1855.

CHART FORMATION:-

Stock is forming falling channel and breaching of it can show upside movement in the stock.

It's managing facing resistance from 89 EMA crossing of it can test the level of 200 DMA at 1819.

INDICATORS:-

RSI has shown bounce back from 30 level and consolidating near to 45 level with positive bias ,in upcoming session crossing of 50 level it can test the level of 70.

Fast line has given the break out above slow line and it's about give the break above above zero level line.

In Stochastic , K% is trading above D% which is showing strength for buying in the stock.