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| Morrison(wm) Suppermarket |
RECOMMENDATION
: BUY
TARGET 184
Morrison (wm)
Suppermarket Plc is looking good for buying , Stock is showing
accumulation from bottom with good volumes and gaining strength for
buying. It is managing to cross the falling trend line and sustains
above it with positive bias. Stock has showing consolidate near to
resistance level i.e 176 crossing of it can show northward journey
with stop loss of 171 for the tgt of 184.
CHART FORMATION:-
Stock has given the
break out above the falling channel and facing resistance from the
level of 176 crossing of it can show upside movement.
It's managing to
trade above 50 DMA & facing resistance from 89 EMA i.e 176
crossing of it can show the level of 181.
INDICATORS:-
RSI is trading above the level of 50 and looking further bullish and
facing resistance at 65 crossing of it can test the level of 70.
Fast line has given the break out above slow line and it's about to
give the break out above the zero level line.
ADX is trading above
25 level, Positive DI has given the break out above Negative DI which
is indicating strength in the stock.
