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| Stock of the day |
TARGET 940
The primary trend of Arm Holding Plc is bearish but it has shown
recovery from bottom and manages to trade above 50 DMA .Stock is
showing strength in buying from last few trading session and trading
with positive bias.One can initiates the long position in the stock
after crossing of falling trend line at 886 it can test the level of
940 with the stop loss of 860.
CHART FORMATION:-
Stock is forming falling wedge pattern and trading in the pattern
crossing of the trend line can show northward journey.
Stock is sustaining above 50 DMA and crossing of the resistance
level and crossing 200 Dma can show further 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 is trading above 25 level , Positive DI is placed above
negative which is indicating strength for buying.
Macd & Signal line is trading above Zero level line which is
indicating strength in the stock.
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