Tuesday, 16 September 2014

UK stock Pick of the day : Shaftesbury Plc Ord


 


RECOMMENDATION BUY
TARGET 696
The primary trend of Shaftesbury Plc is side ways and from last few trading session stock is showing strenght for buying and looking strong on charts.The level is very crucial earlier it has been the major support level at 676 and it has tested the level now it's acting like the resistance level crossing of it can show upside movement and can test the level of 696 . One can initiates the long position above the level of 676 with sl of 665 for the target of 696.


CHART FORMATION:-
Stock has managing to trade with positive bias and consolidating near to resistance level crossing of it can show northward journey.
It's managing to trade above 50 DMA and facing resistance from 200 DMA at 679 crossing of it can show further 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.