Monday, 8 December 2014

UK Stock Market Technical Analysis


British banks were in the money on Friday as positive job news across the Pond revived the prospect of a US rate hike in 2015. The FTSE fell initially during the course of the week, but found enough support near the 6650 level to turn things back and closed on positive note at 6742 .The market is facing resistance from the level of 6780 and any pull back is a buying opportunity.As index is forming strong pattern for further buying, crossing of resistance level can test the level of 6900 with the support of 6600.

TOP GAINER
Name
Close Price
Change %
Kingfisher
328.2
3.21
Vodafone Group
230.6
3.11
Schroders Nvtg
2171
3.04
Barclays
249.45
2.8
Carnival
2805
2.75

TOP LOSER

Name
Close Price
Change %
Bhp Bhilliton
1474
-1.73
Bg Group
907.5
-1.7
Next
6655
-1.48
Rio Tinto
2898
-1.21
Anglo American
1268
-1.21





Fidelity European Value Plc


Detailed technical chart of Fidelity European stock pick of the day
Technical Chart

RECOMMENDATION BUY
TARGET 170
The major trend of Fidelity European Value Plc is bullish and it is showing strenght for upside and manages to sustain above the trend line.For upcoming session stock is looking strong on charts and facing resistance from l65 level crossing of it can show upside movement and can test the level of 170 with stop loss of 160.


CHART FORMATION:-
Stock has looking strong on charts and Flag pattern crossing of neck line can show upside movement.
It's trading above the 50 DMA and200 DMA crossing with positive bias.

INDICATORS:-
RSI is trading above the 50 level and showing consolidation , crossing of 60 level it can test the level of 70.
Macd & Signal line is trading above Zero level line with positive bias.