Thursday, 28 August 2014

UK Stock pick of the day : CSR Plc


TARGET     895

CSR Plc  is consolidating with support of falling trend line and managing to trade above 200 DMA & 50 DMA.The major trend of stock is bearish and it's showing reversal in the stock as from last few trading session it's managing to trade in positive territory and gaining strength for buying by showing accumulation with good volumes.In near future crossing of the resistance level i.e. 590 it can show the tgt of 660 with 50 DMA acting as good stop loss level at 550.

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Stock has showing consolidation with support of the falling trend line, and forming flag pattern which is indicating crossing of  the neck line it can give tgt of pole
It's managing to trade above 50 DMA & 200 DMA which is indicating strength in the stock.


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 sustains above the zero level.