Thursday, 2 October 2014

U.K. stock pick of the day : Betfair Group Plc


U.K. Stock pick of the day



RECOMMENDATION BUY
TARGET 1144
Betfair Group Plc is looking strong on charts for buying .The over all trend of stock is bullish and it has manages to give the break out above the trend line and sustain above that with positive bias.In upcoming session it can show upside movement after crossing of the resistance level at 1101 it can test the level of 1144 with the stop loss at 1080.

CHART FORMATION:-
Stock has given the break out of trend line and forming flag pattern which is continuation pattern crossing of the neck line it can give the target of pole.i.e 1144.
It's managing to trade above 50 DMA and 200 DMA with positive bias.

INDICATORS:-
RSI is trading above the level of 50 and looking further bullish and facing resistance at 57 crossing of it can 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 has given the break out above negative DI which is indicating upside movement.