Wednesday, 18 February 2015

UK Stock Pick and Technical Analysis as on Wednesday, February 18 2015

The Major trend of Easy Jet Plc is sideways and it is showing strength for buying. If it moves above the resistance then one can initiate the long position in the stock. If it breaks the level of 1783 upside then it can show upside movement for the target of 1840 with the stop loss of 1740.

Stock is forming inverse Head and Shoulder pattern and buying can be seen in the chart. Crossing the resistance will lead to upside movement. Stock is trading above the 50 & 200 DMA with positive bias.

Technical Chart

RSI is trading near to 62.69 level with positive bias, in upcoming session upside movement is expected.
MACD and Signal line is sustaining above the zero level line.