Thursday, 25 September 2014

U.K. Stock pick of the day : Fresnillo Plc


U.K. stock pick of the day

RECOMMENDATION BUY
TARGET 845

The major trend of Fresnillo Plc Ord is Bearish and from last few trading session it's showing strength of buying.Stock is forming H&S pattern which is a reversal pattern crossing of neck line can show upside movement.One can initiates the long position in the stock above the level 795 with SL of 770 for the target of 845.
 
CHART FORMATION:-
Stock has forming H&S pattern which is reversal pattern , Crossing of neck line can show upside movement.
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.
ADX is trading above 25 level , Positive DI is given the break out above negativi DI which is confirming strenght in the stock.