RECOMMENDATION
Sell
The secondary trend of Intermediate Reed Elsevier Plc is Bullish and
from last few trading session it's showing selling pressure and did
not manages to sustain at higher level.Stock is facing support from
rising trend line , breaching of it can show side movement one can
initiates the short position in the stock below the level of 970 with
Stop loss of 1000 for the target of 912
CHART FORMATION:-
Stock is consolidating with negative bias breaching of the support
level can show the down side movement.
It's managing to trade below 50 DMA and facing support from 200 DMA
breaching of the 200 DMA can show further negative movement.
INDICATORS:-
RSI is trading below the level of 50 and consolidating with negative
bias.
MACD & Signal line is manages to sustain below zero level line
with negative bias.
ADX, Negative DI is sustaining above the positive DI which is
indicating weakness in the stock.
