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| FTSE stock pick of the day |
TARGET 286
The primary trend of the stock is Bearish and from last few trading
session stock is showing strength for buying and looking strong on
charts. Stock is trading with support from the falling tren d line
and manages to sustain above the trendline with positive bias.Stock
is facing immediate resistance from the level of 279 crossing of it
can show fresh buying and it can test the level of 286 after crossing
it's 200 DMA at 283 with the stop loss of 274.
CHART FORMATION:-
Stock is trading with support of falling trend line and forming
ascending triangle crossing of the level line can show upside
movement.
Stock is sustaining above 50 DMA and facing support from 200 DMA
crossing of it can show upside movement.
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INDICATORS:-
RSI is trading near to the level of 50 and showing consolidation ,
Breaching of the resistance level can manage to test the level of 70.
In ADX , Positive DI is placed above negative with positive bias.
Macd & Signal line is trading above Zero level line which is
indicating strength in the stock.
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