UK stock pick of the day : Victrex Plc Ord

FTSE stock pick of the day

RECOMMENDATION BUY

TARGET 1740

The primary trend of Victrex Plc Ord is Bearish and from last few trading session stock is showing strength for buying and looking strong on charts. Stock is facing support from the level 1580 sustaining above that can show northward journey.One can initiate the long position in the stock above the level of 1640 with Sl 1580 for the target 1740.

CHART FORMATION:-

Stock is trading with support of falling trend line and facing resistance from the level of 1640 crossing of it can show northward journey.

Stock is sustaining above 50 DMA and facing support from 200 DMA crossing of it can show upside movement.

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.