Stock : Diageo Plc
RECOMMENDATION
: BUY
TARGET 1855
Diageo Plc is
looking good for buying ,the major trend of stock is bearish but
it's showing accumulation from bottom and gaining strength for
buying. Stock is facing resistance from 89 EMA breaching of it can
show upside movement.Stock is shoeing bounce from bottom if it
manages to consolidate near to the resistance level One can initiate
the long position in the stock above the level of 1785 with stop loss
of 1745 for the target of 1855.
CHART FORMATION:-
Stock is forming
falling channel and breaching of it can show upside movement in the
stock.
It's managing facing
resistance from 89 EMA crossing of it can test the level of 200 DMA
at 1819.
INDICATORS:-
RSI has shown bounce back from 30 level and consolidating near to 45
level with positive bias ,in upcoming session crossing of 50 level it
can test the level of 70.
Fast line has given the break out above slow line and it's about give
the break above above zero level line.
In Stochastic , K% is trading above D% which is showing strength for
buying in the stock.
