Tuesday, 19 August 2014

Stock pick of the day : MAN Group plc, Tuesday, August 19 2014




RECOMMENDATION : BUY
TARGET 121
MAN Group 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 and managing to trade in positive territory from last few trading session. Stock has managing to consolidate near to resistance level i.e 115 crossing of it can show northward journey with stop loss of 111for the tgt of 121.

CHART FORMATION:-
Stock is showing consolidation near to the resistance level and breaching of it can show upside movement.
It's managing to trade above 50 DMA & facing resistance from 200 DMA i.e.118 crossing of it can show the level of 121.

INDICATORS:-
RSI is trading above the level of 50 and looking further bullish and facing resistance at 60 crossing of it can test the level of 70.
Fast line has given the break out above slow line and it's trading above the zero level line.
In stochastic K% is trading above D% which is indicating strength for buying in the stock