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| British sky broadcasting Plc |
RECOMMENDATION
BUY
TARGET 895
British Sky
Broadcasting Group Plc is consolidating after crossing of falling
trend line .The major trend of stock is bearish and it's showing
Bounce back from the bottom one can make long position with the
strategy of buying from bottom .Stock has gaining strength for buying
by showing accumulation with good volumes crossing of the resistance
level i.e. 865 it can show the tgt of 895 with 50 DMA acting as good
stop loss level at 855.
CHART FORMATION:-
Stock has given the
break out above the falling trend line and managing to sustain above
it with positive bias crossing of the level 865 it can show northward
journey.
It's managing to
trade above 50 DMA & facing resistance from 200 DMA i.e 870
crossing of it can show the level of 895.
INDICATORS:-
RSI is trading above the level of 50 and looking further bullish and
facing resistance at 62 crossing of it can test the level of 70.
Fast line has given the break out above slow line and it's sustains
above the zero level line with the positive bias.
