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| FTSE stock pick of the day |
RECOMMENDATION
Sell
TARGET
The secondary trend of Intermediate Capital Group Plc is Bullish and
from last few trading session it's showing selling pressure and did
not manages to sustain at higher level.Stock is facing support from
rising trend line , breaching of it can show side movement one can
initiates the short position in the stock below the level of 390 with
Stop loss of 401 for the target of 370.
CHART FORMATION:-
Stock has forming inverted flag pattern breaching of the neck line it
can give the target of pole.
It's managing to trade below 50 DMA & 200 DMA , it's 200 DMA is
about to give cross over above 50 DMA which is confirming selling in
the stock.
INDICATORS:-
RSI is trading below the level of 50 and consolidating with negative
bias.
MACD & Signal line is manages to sustain below zero level line
with negative bias.
ADX, Negative DI is sustaining above the positive DI which is
indicating weakness in the stock.
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