Thursday, 30 October 2014

London stock exchange overview and stock pick of the day


London stock exchange Overview
Stocks were moving higher in the run-up to the US Federal Reserve's policy announcement on Wednesday afternoon, as some investors were expecting that policymakers might tone down their rhetoric a bit. FTSE 100 was trading around 47 points higher than Tuesday's close at 6,449.03 and now for upcoming session it is looking strong and bullish movement is expected on the charts any pullback between here and there should be a buying opportunity on a short-term chart. Crossing of the resistance level if 6500 it can show the level of 6600 & 6750 with the support of 6350.

TOP GAINER

Name
Close Price
Change %
Enterprise Inns
126
2.27
Sainsbury
250.6
2.16
Old Mutual
190
2.15
Tesco Plc
173.35
2.09
Imperial Tobacco
2645
2.04


TOP LOSER

Name
Close Price
Change %
Capita
1082
-6.48
Rio Tinto
2986
-1.22
Barclays
220.5
-1.12
Standard Chartered
989.35
-0.91
Whitebread
4286
-0.88

Stock pick of the day




RECOMMENDATION BUY
TARGET 1475

The primary trend of Close Brother Group Plc is sideways, From last week it is consolidating near to resistance level with positive bias. Stock is expected to be in a bullish trend for upcoming session as it has given the break out of 1410 and sustains above that after crossing of the strong resistance i.e. 1425 it can test the level of 1475 with the stop loss if 1404.
 
CHART FORMATION:-
Stock is trading with near to resistance level and consolidating with positive bias crossing of resistance can show northward journey.
Stock is sustaining above 50 DMA and 200 DMA with positive bias.
 
click to enlarge
INDICATORS:-
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 is trading above 25 level , Positive DI is placed above negative which is indicating strength for buying.
Macd & Signal line is trading above Zero level line which is indicating strength in the stock.