Friday, 7 August 2015

UK Stock Market Technical Analysis


UK stock markets closed in the red for the first time in six days on Thursday after another Euro group meeting failed to result in a deal for Greece, leaving Athens one step closer to defaulting on its debts

The FTSE 100 ended the day in red by 36.98 points at 6807.82 If during the day market breaches the support level of 6750 on the downside after consolidation, then it can test the level of 6700 and the immediate resistance level is 6850.

UK Stock Pick of the Day Sab Miller
UK Stock Pick of the Day

The Major trend of SABMILLER PLC it is showing strength for buying .If it breaks the resistance level then one can initiate the buying position in the stock. If it breaks the level of 3445 then it can test resistance level for the target of 3475 with the stop loss of 3415

Stock is trading in a range and trading near the trendline. Breaking the resistance line will lead to upside movement. Stock is trading above the 50 DMA with positive bias.

UK Stock Pick of the Day Sab Miller Technical Analysis
Technical Chart

RSI is trading near to 62.29 level with positive bias, in upcoming session upside movement is expected.
MACD and Signal line is sustaining above the zero level line.