Monday, 22 September 2014

U.K. Stock pick of the day : Berkeley Group Holding


 


RECOMMENDATION BUY
 
TARGET 2490

The primary trend Berkeley Group Holding is Bearish and from last few trading session it's showing strength of buying.Stock has given the break out of falling trendline and manages to consolidates above it with positive bias, it is facing resistance from 200 DMA crossing of it can show northward journey.One can initiates the long position in the stock above the level of 2401 with stop loss of 50 DMA i.e. 2360 for the target of 2490.
 

CHART FORMATION:-

Stock has given break out of trendline and forming flag pattern which is indicating buying in the stock.
It's managing to trade above 50 DMA and facing resistance from 200 DMA crossing of it can show upside movement.

 



INDICATORS:-

RSI is trading above the level of 50 and forming downward channel, Breaching of the channel can manage to 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 is about to give break out above negative DI which is confirming strength in the stock.