Monday, 11 August 2014

Stock pick of the day : Tate & Lyle Plc

Tate & Lyle Plc

RECOMMENDATION  :  BUY
TARGET 1855
Tate & Lyle 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 is consolidating near to the resistance level, crossing of it can show northward journey. One can initiate the long position in the stock above the level of 660 with stop loss of 640 for the target of 760.


CHART FORMATION:-
Stock is facing resistance from falling trend line & trading with the support of it, crossing of trend line 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.
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.