Wednesday, 5 November 2014

UK stock market overview and stock pick of the day


FTSE stock analysis
 
The falling price of crude oil and precious metals left markets struggling to get a grip on Tuesday. The price of a barrel of US light crude fell nearly 3% to about $76.5 a barrel and Brent crude dipped below the$83 mark, dragging the FTSE 100 Index down 34 points at 6453.97. If Index can break above the 6600 level, this market will then go to the 6900 level and given enough time for it with 6400 level is proving to be good support level. FTSE 100 is trading in narrow range of 6430-6510 consolidating in a range.

TOP GAINER
Name
Close Price
Change %
Man Group
129.8
5.19
Associat Brit Food
2783
4.19
Imperial Tobacco
2777
4.12
Legal & General
235.2
1.99
Dly Mail & Gen Tst A
806.13
1.72


TOP LOSER

Name
Close Price
Change %
Bg Group
999.1
-3.56
Bp
430.4
-3
William Hill
354.3
-1.58
Bae Systems
451
-1.46
Bt Group
362.2
-1.39



Stock pick of the day : Petra Diamonds Limited Ord Plc

 
RECOMMENDATION BUY
TARGET 176
The primary trend of Petra Diamonds Limited Ord Plc is bearish but from last few trading session it is not managing to sustain at lower level and showing strengtg for buying.For upcoming session it is looking strong and consolidating near to resistance level i.e. 170 crossing of it can give the target of 176 with the stop loss of 166 .
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 crossing of the resistance level it can test the level of 200 DMA.
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.