Friday, 8 August 2014

Stock Pick for tomorrow

Jet Plc

The major trend of Easy Jet Plc is bearish and managing to sustain at lower level with negative bias. Stock is facing resistance from the 50 DMA & 200DMA and sustaining below that which indicating the weakness in the stock. Breaching of the level 1230 it can test the level of 1130 with the stop loss of 1300
Stock is looking weak on chart and consolidating with negative bias near to the support line.
It's 200 DMA has manage to sustain above 50 DMA and stock is trading below both the DMA which indicating weakness in the stock.
RSI is trading below the level of 50 with negative bias & given the break out of rising trnd line which indicating the down side movement in the stock.
ADX is trading above 25 level, Negative DI has given the break out of positive DI which is indicating strength in the current trend.
MACD & Signal line is trading below the zero level line , indicating the trend of stock is weak.