NYSE LIVE UPDATE

Wednesday 28 January 2015

UK Stock BG Group Plc. - Showing Reversal In Upside Movement

UK stocks falls after figure shown that economic growth slowed to just 0.5% in fourth quarter of 2014 due to contractions in construction and production. The FTSE 100 fell 0.6% to 6811.61. Market falls from its highest level in four and a half months. There is strong resistance at 6920 level and during the day if market is breaching the level of 6835 then it can test the level of 6920 with the support of 6720.


RECOMMENDATION  BUY  TARGET     960


BG Group Plc


The Major trend of  BG Group Plc is Consolidating in lower levels and it is showing signs of reversal and we can see upside movement in it. Stock is trading near its resistance of 926.One can initiate the long position in the stock after crossing of it is major resistance level i.e.926 it can show upside movement for the target of 960 with the stop loss of 904

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CHART FORMATION:-
 

Stock is forming double bottom pattern and showing strength of reversal from lower level which will lead for buying. Crossing the resistance will lead to upside movement.Stock is trading above the 200 DMA with positive bias.

 

INDICATORS:-
 

RSI is trading near to 65 level with positive bias , in upcoming session upside movement is expected.
MACD and Signal line is sustaining above the zero level line.
Volume is also increasing as stock is near breakout of pattern.




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