Thursday, 14 August 2014

Stock pick of the day : Standard Chartered Plc


Standard Chartered Plc



RECOMMENDATION :  BUY
 
TARGET 1290

Standard Chartered 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 given the break out above the falling trend line managing to sustain above it for upcoming session crossing of the resistance level i.e 1230 it can show northward journey with stocp loss of 1200 for the tgt of 1290.
 
CHART FORMATION:-
Stock is given the break out above falling trend line and consolidating near to the resistance level crossing of it can show upside movement.
It's managing to trade above 50 DMA & 200 DMA with positive bias.

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.
ADX is trading above25 level, Positive DI has given the break out above negative DI which is indicating strength in the stock for buying.