|FTSE stock pick of the day|
The primary trend of the stock is Bearish and from last few trading session stock is showing strength for buying and looking strong on charts. Stock is trading with support from the falling tren d line and manages to sustain above the trendline with positive bias.Stock is facing immediate resistance from the level of 279 crossing of it can show fresh buying and it can test the level of 286 after crossing it's 200 DMA at 283 with the stop loss of 274.
Stock is trading with support of falling trend line and forming ascending triangle crossing of the level line can show upside movement.
Stock is sustaining above 50 DMA and facing support from 200 DMA crossing of it can show upside movement.
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RSI is trading near to the level of 50 and showing consolidation , Breaching of the resistance level can manage to test the level of 70.
In ADX , Positive DI is placed above negative with positive bias.
Macd & Signal line is trading above Zero level line which is indicating strength in the stock.