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| Standard Chartered Plc |
RECOMMENDATION :
BUY
TARGET 1290
Standard Chartered
Plc is looking good for buying ,the major trend of stock is bearish
but it's showing accumulation from bottom and gaining strength for
buying and managing to trade in positive territory from last few
trading session. Stock has given the break out above the falling
trend line managing to sustain above it for upcoming session
crossing of the resistance level i.e 1230 it can show northward
journey with stocp loss of 1200 for the tgt of 1290.
CHART FORMATION:-
Stock is given the
break out above falling trend line and consolidating near to the
resistance level crossing of it can show upside movement.
It's managing to
trade above 50 DMA & 200 DMA with positive bias.
INDICATORS:-
RSI is trading above the level of 50 and looking further bullish and
facing resistance at 60 crossing of it can test the level of 70.
Fast line has given the break out above slow line and it's trading
above the zero level line.
ADX is trading
above25 level, Positive DI has given the break out above negative DI
which is indicating strength in the stock for buying.
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