UK Stock pick of the day : Carillion plc

Stock pick of the day

RECOMMENDATION : Sell

TARGET 314

STOCK SUMMARY:

The major trend of Carillion plc Ord is sideways but from last few trading session it's showing selling pressure and not managing to sustain at higher level. Stock is facing support from the rising trend line and consolidating near to it, breaching of it can show downside movement.One can initiate the short position in the stock below the level of 328 for the target of 314 with stop loss of 335.

CHART FORMATION:-

Stock is looking weak on chart and forming symmetric triangle breaching of support level it can downside movement.

Stock is managing to trade below 50 DMA and 200 DMA , facing resistance from it's 50 DMA which is acting as good stop loss level at 335.

INDICATORS:-

RSI is trading below the level of 50 with negative bias & given the break out of rising trnd line which indicating the down side movement in the stock.

In ADX , Negative DI has given the break out of positive DI which is indicating weakness in current trend.

Top gainers and losers on UK stock market

Top gainers and losers of UK stock market

 

TOP GAINER

Name	Close Price	Change %
Shire	5135	2.19
Tesco Plc	232.7	1.84
Pearson	1117	0.72
Brit Amer Tobacco	3606	0.61
Carnival	2388	0.59

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TOP LOSER

Name	Close Price	Change %
Associat Brit Foods	2757	-5.23
Enterprise Inns	116.6	-3.64
Lloyd Banking grp	72.27	-2.34
3I Group	376.3	-2.16
Sse	1473	-2.51

UK Stock market overview

UK stock market overview

UK stocks ended Monday's session in the red, as investors became increasingly concerned about the referendum on Scottish independence and reacted to reports of ongoing geopolitical tensions amid what was otherwise a fairly quiet session.
 

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The FTSE closed down 20.33 at 6,834.77."After a mixed start, European markets have moved lower throughout the day with the FTSE 100 leading the declines after a weekend poll by YouGov put the 'Yes' vote for Scottish Independence ahead in the polls for the first time," said Michael Hewson, the chief market analyst at CMC Markets UK.

Technically FTSE showed short term correction and opened gap down traded in negative territory , breached the level of 6800 but did not manage sustain below that and closed with moderate loss above the level of 6800.

For upcoming session it can show consolidation face between the range of 6820-6850., crossing of 6850 it can test 6900 & 6950 with immediate support of 6700.

UK stock Pick of the day : Carillion Plc Ord

 

UK stock pick of the day

RECOMMENDATION : Sell

 

TARGET 314

 

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STOCK SUMMARY:

The major trend of Carillion plc Ord is sideways but from last few trading session it's showing selling pressure and not managing to sustain at higher level. Stock is facing support from the rising trend line and consolidating near to it, breaching of it can show downside movement.One can initiate the short position in the stock below the level of 328 for the target of 314 with stop loss of 335.

 

CHART FORMATION:-

Stock is looking weak on chart and forming symmetric triangle breaching of support level it can downside movement.

Stock is managing to trade below 50 DMA and 200 DMA , facing resistance from it's 50 DMA which is acting as good stop loss level at 335.

 

INDICATORS:-

RSI is trading below the level of 50 with negative bias & given the break out of rising trnd line which indicating the down side movement in the stock.

In ADX , Negative DI has given the break out of positive DI which is indicating weakness in current trend.

Top Gainers and losers : UK stock Market

Top Gainers and losers of UK stock Market

 

TOP GAINER

Name	Close Price	Change %
Bp	466.8	2.59
Schroders Nvtg	1880	1.18
Smith & Nephew	1065	1.04
Severn Trent	1995	0.76
Rsa Insur Grp	470	0.69

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TOP LOSER

Name	Close Price	Change %
Royal Bk Scotl Gr	347	-2.23
Capita	1190	-2.22
Barclays	226.25	-1.95
Enterprise inns	121	-1.87
Anglo American	1564.5	-1.82

UK Stock Market Today's Overview

UK Stock Market today's overview

UK stocks declined on Friday after hitting an intraday 14-year high the previous session, as investors scaled back risk appetite ahead of the highly-anticipated US non-farm payrolls data.

London's FTSE 100 was trading 0.7% lower at 6,831 by midday after five straight days of gains.

The Footsie edged higher on Thursday to close at 6,877.97, its highest finish since 14 May when it settled at 6,878.49.

During the session the index reached a high of 6,904.86, its highest intraday level since the record 6,950.60 set in late December 1999.

For upcoming week it can consolidate with in a range and can show short term recovery and can test the level of 6800 as profit booking can be seen before breaching of 6910 level.

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ECB startled EUR trading in FOREX market

EuropeanCentral Bank (ECB) shook domestic and forex markets as it declared the new interest rate 0.10 percent down from the previous 0.15 percent on Thursday dazzling the currency trading. With the new interest rate at 0.05 percent, short-term bonds entered negative floating charts in France, Austria, Netherlands and Germany, where investors jumped to sell euros to reinvest their holdings in higher yielding investments overseas.

In the forex market trading, EUR/USD pair fell to $1.3000 as per our resistance level pointed out in yesterday's report. President of ECB Mario Draghi added, "ECB will start purchasing asset backed bonds as a further influx in the economy from October."

Forex pairs are correcting their measures as they are accepting the new reforms in the central authority in European Union (EU) and the changes brought in currency level. EUR/USD pair is likely fall further with support at $1.2985 with resistance level marked up between $1.3105 and $1.3110.

The pair is gaining support at the level of $1.2955 and $1.2900. Though, the value of Euro is terming as "exaggerated" at the moment, the pair is likely lose out in the market because of hiking US non farm payrolls  (NFP).
 
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UK markets showed up trading at similar levels as the pairing of GBP/USD is hovering at the level of $1.6400 expected to fall. Forex experts are holding up the sales until the pair breaks below $1.6390 targeting at $1.6300. UK markets are trading flat as there is no major news in line with exception to Halifax HPI posting.

USD/JPY traded near the same levels of 104 but did not break over the resistance level of 105.00 even after Bank of Japan intervened. Governer of Bank of Japan Kuroda said, "Our economy is facing trouble since hiked tab from April and the forex trade is representing that."

Though, Kuroda admitted the problematic economic growth he did not comment on any changes in monetary policy rather commented, "Economy is waiting for a recovery from the markets." USD/JPY is trading with support levels between 104.40 and 104.00 with resistance hiked at 105.30 and 105.40.