MARKET OVERVIEW
UK stocks had pared gains and were trading more or less flat by Monday lunchtime as investors showed caution ahead of a busy week.London's FTSE 100 was up just 0.1 at 6,558 by noon, having pulled back after reaching an intra-day high of 6,589.20 early on as mining stocks extended losses As it is more of a resistance zone. Index can show pullbacks rally it will be buying opportunity . Index is managing to close at higher level for upcoming session it can show further upside movement and can test the level of 6700, 6800 with the support of 6400.
RECOMMENDATION BUY
TARGET 54
The Major trend of Cable & Wireless Communication Plc is bullish and it is managing to trade on higher level with positive bias One can initiate the long position in the stock after crossing of it is major resistance level i.e. 51 it can show upside movement for the target of 54 with 50 DMA acting as good stop loss level 49.
CHART FORMATION:-
Stock is showing consolidating with positive bias,and showing strenght for buying crossing above the level can show northward journey.
Stock is trading above 50 DMA and 200 DMA with positive bias.
INDICATORS:-
RSI is trading near to 60 level and manges to sustain near that , in upcoming session upside movement is expected.
MACD and Signal line is manages to give break out above zero level line sustaining above it can show upside movement.
UK stocks had pared gains and were trading more or less flat by Monday lunchtime as investors showed caution ahead of a busy week.London's FTSE 100 was up just 0.1 at 6,558 by noon, having pulled back after reaching an intra-day high of 6,589.20 early on as mining stocks extended losses As it is more of a resistance zone. Index can show pullbacks rally it will be buying opportunity . Index is managing to close at higher level for upcoming session it can show further upside movement and can test the level of 6700, 6800 with the support of 6400.
RECOMMENDATION BUY
TARGET 54
Cable &
Wireless Communication Plc
The Major trend of Cable & Wireless Communication Plc is bullish and it is managing to trade on higher level with positive bias One can initiate the long position in the stock after crossing of it is major resistance level i.e. 51 it can show upside movement for the target of 54 with 50 DMA acting as good stop loss level 49.
CHART FORMATION:-
Stock is showing consolidating with positive bias,and showing strenght for buying crossing above the level can show northward journey.
Stock is trading above 50 DMA and 200 DMA with positive bias.
INDICATORS:-
RSI is trading near to 60 level and manges to sustain near that , in upcoming session upside movement is expected.
MACD and Signal line is manages to give break out above zero level line sustaining above it can show upside movement.
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