Tuesday, 29 December 2015

UK Stock Market Analysis/Stock Pick of the Day for 29/12/2015

FTSE Technical Analysis

Stocks and Gilts rose, but prices for industrial metals and the US dollar retreated after the minutes of the US central bank's policy meeting were released overnight.
The initial reaction from many traders and economists to the Federal Reserve's minutes was that a December interest rate hike was now quite possible, but for some - especially the former - apparently not certain.

The FTSE 100 ended the day in green by 50 points at 6329. In the day market, if breach the support level of 6200 on downside after consolidation, then it can test the level of 6140 and the immediate Resistance level is 6260.  

Top Losers

Name
Close Price
Change %
TESCO PLC
150.9
1.31
BT GROUP
467.05
1.24
JOHNSON MATTHEY
2703
1.1
SAGE GRP
596
0.67
WPP
1538
0.65

Top Gainers

Name
Close Price
Change %
BP
365.95
1.54
ANGLO AMERICAN
328.05
1.45
OLD MUTUAL
181.7
1.45
MARKS & SPENCER
453.4
1.43
HAYS
148.3
1.3



Stock of the Day : BARCLAYS PLC


The Major trend of BARCLAYS PLC it is showing strentgh for buying If it crooses the resistance level then one can initiate buying position in the stock. If it crosses the level of 223 then it can test level for the target of 228 with the stop loss of 218

Stock of the day Barclays PLC
Barclays PLC

Technical Chart 

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

Stock of the Day Barclays PLC Technical Chart
Stock Technical Chart

Stock Technical Analysis/Forecast

RSI is trading near to 60.30 levels with positive bias, in upcoming session upside movement is expected.
MACD and Signal line is sustained above the zero level line.