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| Tate & Lyle Plc : Stock pick for the day |
RECOMMENDATION : BUY
TARGET 760
Tate & Lyle 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 is consolidating near to the resistance level,
crossing of it can show northward journey. One can initiate the long
position in the stock above the level of 670 with stop loss of 640
for the target of 760.
CHART FORMATION:-
Stock is facing
resistance from falling trend line & trading with the support of
it, crossing of trend line 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.
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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