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| UK stock pick of the day |
RECOMMENDATION : BUY
TARGET : 2990
The primary trend of Spirax – Sarco enginerring Plc is side ways and it has given the break out of falling trend line and managing to sustain above it positive bias.From last week it is consolidating near to resistance level with positive bias. Stock is looking strong for upcoming session as it has given the break out of 2820 and sustains above that after crossing of the strong resistance i.e. 2860 it can test the level of 2990 with the stop loss if 2790.
CHART FORMATION:-
Stock is trading with near to resistance level and consolidating with positive bias crossing of resistance can show northward journey.
Stock is sustaining above 50 DMA and 200 DMA with positive bias.
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| Technical chart |
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.
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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