UK Stock Market Technical Analysis and Stock Picks

UK stocks advanced on Thursday, although the FTSE 100 was marginally lower as China's central bank devalued its currency for a third day and as Greece's economy expanded in the second quarter.

The People's Bank of China devalued the yuan for the third consecutive day on Thursday. The Bank set the parity rate at 6.4010 yuan for $1, down 1.11% from the previous day's 6.3306, in an effort to boost exports to feed the slowing economy.

The FTSE 100 ended the day in red by 2.86 points at 6568.33. If during the day market cross the resistance level of 6630 on upside after consolidation, then it can test the level of 6700 and the immediate support level is 6500.

Stock Pick of the Day

JOHNSON MATTHEY PLC GROUP

RECOMMENDATION SELL

TARGET 2840

The Major trend of JOHNSON MATTHEY PLC it is showing strength for selling .If it breaks the support level then one can initiate the selling position in the stock. If it breaks the level of 2840 then it can test support level for the target of 2805 with the stop loss of 2875.

CHART FORMATION:-

Stock is trading in a range and trading near the trendline. Breaking the support line will lead to downside movement. Stock is trading below the 50 DMA with negative bias.

INDICATORS:-

RSI is trading near to 44.82 level with negative bias, in upcoming session downside movement is expected.

MACD and Signal line is sustaining below the zero level line.

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London Stock Market Overview Monday, March 30 2015

UK Stock Market Overview

London stocks fall on the fourth day consecutively as a sell-off in iron ore and a stronger dollar hit share prices in the mining sector. In economic data, a Nationwide survey showed the annual growth in UK house prices slowed to an 18-month low of 5.1% in March. Meanwhile, the final estimate of fourth-quarter annualized US economic growth was confirmed at 2.2%, in line with initial estimates but down from 5% in the third quarter.

The FTSE 100 index ended the session down by 0.58 % at 6855.02, as it is not able to sustain above the 7000 level mark. If during the day market is breaching the support level of 6830 on downside after consolidation, then it can test the level of 6770 with the reistance of 6880.

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TOP GAINER

Name	Close Price	Change %
CARNIVAL	3241	7.18
INTERCONT HOTELS	2640	2.76
SHIRE	5425	2.17
SABMILLER	3613	1.43
MAN GROUP	203.6	1.24

TOP LOSER

Name	Close Price	Change %
ANGLO AMERICAN	1044	3.02
HAYS	151.2	2.64
RIO TINTO	2809.5	2.35
BARCLAYS	244.25	2.3
BHP BILLITON	1507.5	2.27

FTSE Technical Analysis and Predictions for the upcoming London Stock Market session

 

FTSE

At Friday's close, the FTSE 100 index stood strong at 7022.51, up 0.8% on the day, off a touch from its session high of 7024.21. The FTSE 100's landmark move above 7000 came at the right time. With 47 days left until the most uncertain UK election in decades. Vedanta Resources topped the risers, on other side Debenhams was trading lower after the department store was downgraded. The index can expect to go through some jittery times in the coming trading session.

The FTSE 100 index during the day can show further upside movement with support of 6800 For higher side 7100 can be seen in upcoming session. On ADX positive DI has crossed p the negative DI with ADX trading above 30 mark showing that momentum can be stronger.

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TOP GAINER

Name	Close Price	Change %
MAN GROUP	251.2	4.97
MARKS & SPENCER	1463	3.32
ANTOFAGASTA	840.3	2.23
AVIVA	1501	2.18
BHP BILLITON	425.9	1.99

TOP LOSER

Name	Close Price	Change %
Schroders NVTG	2411	-2.9
Antofagasta	687	-2.83
Morrison Supermkts	201.3	-2.19
Schroders	3199	-2.11
Rentokil Intial	138.4	-1.77

London Stock Market Technical Analysis & Predictions for Wednesday, March 11 2015

 

London stock market fall after stronger US dollar and falling commodity prices led the London stock market to drag the heavyweight energy and mining sectors stocks. Eurozone creditors have put more pressure on Greece to implement reforms to unleash aid and avoid bankruptcy. The Eurogroup ended discussions about Greece on Monday after about an hour in Brussels, as Greek finance minister Yannis Varoufakis was told to map out a realistic programme of fiscal reforms.

The FTSE 100 index fell 2.5% to 6702.84 till the end of the day, with ongoing concerns about Greece further weighing on sentiment. If during the day market is breaching the support level of 6680 on downside after consolidation, then it can test the level of 6620 with the resistance of 6720.

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