Tuesday, 2 September 2014

Stock Pick of the day : Amlin Plc

Stock pick of the day

 
RECOMMENDATION BUY
TARGET 464
Amlin Plc is consolidating near to resistance level.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. 452 it can show the tgt of 464 with stop loss at 445.
 
 

CHART FORMATION:-
Stock has forming double bottom and showing trend reversal crossing of resistance level it can show the level of 464 as falling trendline will act as resistance level.
It's managing to trade above 50 DMA and facing resistance from 200DMA once can book profit till the 200 DMA.

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.
ADX is trading above 25 level, Positive Di has given the break out above negative DI which is indicating upside movement