Friday, 22 August 2014

Stock Pick of the day British sky broadcasting Plc

British sky broadcasting Plc
 RECOMMENDATION BUY
TARGET 895
British Sky Broadcasting Group Plc is consolidating after crossing of falling trend line .The major trend of stock is bearish and it's showing Bounce back from the bottom one can make long position with the strategy of buying from bottom .Stock has gaining strength for buying by showing accumulation with good volumes crossing of the resistance level i.e. 865 it can show the tgt of 895 with 50 DMA acting as good stop loss level at 855.
CHART FORMATION:-
Stock has given the break out above the falling trend line and managing to sustain above it with positive bias crossing of the level 865 it can show northward journey.
It's managing to trade above 50 DMA & facing resistance from 200 DMA i.e 870 crossing of it can show the level of 895.

INDICATORS:-
RSI is trading above the level of 50 and looking further bullish and facing resistance at 62 crossing of it can test the level of 70.
Fast line has given the break out above slow line and it's sustains above the zero level line with the positive bias.