|FTSE stock pick of the day|
The secondary trend of Intermediate Capital Group 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 390 with Stop loss of 401 for the target of 370.
Stock has forming inverted flag pattern breaching of the neck line it can give the target of pole.
It's managing to trade below 50 DMA & 200 DMA , it's 200 DMA is about to give cross over above 50 DMA which is confirming selling in the stock.
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.