Friday, 3 October 2014

U.K. stock pick of the day : Reed Elsevier Plc

The secondary trend of Intermediate Reed Elsevier Plc is Bullish and from last few trading session it's showing selling pressure and did not manages to sustain at higher level.Stock is facing support from rising trend line , breaching of it can show side movement one can initiates the short position in the stock below the level of 970 with Stop loss of 1000 for the target of 912
Stock is consolidating with negative bias breaching of the support level can show the down side movement.
It's managing to trade below 50 DMA and facing support from 200 DMA breaching of the 200 DMA can show further negative movement.

RSI is trading below the level of 50 and consolidating with negative bias.
MACD & Signal line is manages to sustain below zero level line with negative bias.
ADX, Negative DI is sustaining above the positive DI which is indicating weakness in the stock.