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| UK 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.
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