UK Stock Trading Signals | BUY call for Abott Labs

Market Overview:-

US equity market closed the session on a positive note on Monday with all major sectors ending in solid gains. The Dow Jones industrial average gained 263 points or 1.49% to close at 17976, the NASDAQ Composite index gained 56 points or 1.14% to close the day at 4947 and the S&P 500 index gained 25 points or 1.21% to end the session at 2086. CB Consumer Confidence data is due on Tuesday, which is expected to come positive for the economy to help support the bulls in the market.

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ABOTT LABS: BUY call for Today

Recommendation Buy Above $48.00

Target:- $50.50

STOCK SUMMARY:-

Abott Labs is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $48.00 which is a near term resistance level for the stock and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $50.50.

CHART FORMATION:-

Stock is in bullish trend for near term and price is taking support above the trend line on daily chart. Near term breach of major resistance level of $48.00 is expected which would trigger further bullish sentiment in the stock to test the levels of $50.50.

INDICATORS:-

RSI is trading with positive bias and is sustaining above the level of 50. 

In MACD, signal line is sustaining above MACD line which is indicating bullish sentiment in the stock.

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UK Equity Tips | SELL call for ROLLS ROYCE HOLDINGS PLC | FTSE 100 ended at 6895.33

UK Stock Market News:

London stocks falls after sharp sell-off on Thursday, dropping to its lowest level in over a week, as geopolitical and macroeconomic fears hammered investor sentiment. Economic data was mostly positive on Thursday with UK retail sales rising a seasonally adjusted 0.7% in February and German consumer confidence improving more than expected.

The FTSE 100 index ended the session down by 1.37 % at 6895.33, as it is not able to manage to close above the 7000 level. If during the day market is breaching the support level of 6870 on downside after consolidation, then it can test the level of 6810 with the reistance of 6920.

UKEquity Tips 

Today's Recommendation for 'ROLLS ROYCE HOLDINGS PLC' is SELL

TARGET 938

The Major trend of ROLLS ROYCE HOLDINGS Plc is sideways and it is showing strength for selling. If it moves below the support level then one can initiate the selling position in the stock. If it breaks the level of then it can show downside movement for the target of 938 with the stop loss of 970.

CHART FORMATION:-

Stock is trading near its support and it is trading near the support trendline and Crossing the support will lead to downside movement. Stock is trading below the 50 and 200 DMA with negative bias.

INDICATORS:-

RSI is trading near to 28.84 level with negative bias, in upcoming session downside movement is expected.

MACD and Signal line is sustaining below the zero level line.

London Stock Market Opening Bell; Stock Picks for Free

London stocks fall from new high after the fear that sonner than expected tighting in the U.S.A dragged markets lower on Friday after a forecast in US jobs report. Economic data from U.S.A of Labor Department said 295,000 non-farm payrolls were added in February, beating the consensus estimate of 235,000 despite the recent severe winter weather. The unemployment rate declined to a seven-year low of 5.5% versus estimates of 5.6% and below 5.7% in January.

The FTSE 100 index fell 0.7% to 6911.80 to close market on negative note. If during the day market is breaching the support level of 6860 on downside after consolidation, then it can test the level of 6800 with the resistance of 6900.

Top Gainers: ITV, Tate & Tyle, Legal & General, BG Group,Standard Chartered

Top Losers: Vodafone Group, Brit Land Co REIT, Anglo American, SSE, Rio Tinto

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FTSE 100 updates | Forex Signals Today

London stocks ended in positive gain after recovery from heavy weights and mining sector stocks. Economic data from across the globe came in mixed on Wednesday compared with consensus expectations, but broadly showed that service sectors across the world were growing at a solid pace in February.

The FTSE 100 index recovered from lower levels to finish the day up 0.44% to 6919.24. If during the day market is breaching the support level of 6860 on downside after consolidation, then it can test the level of 6800 with the resistance of 6900.

Forex News: 

EUR/USD 

The EURUSD fell during the session on yesterday, breaking below the 1.11 level. This suggests that the market is ready to go down to the longer-term target that we have been talking about, the 1.10 level. Because of this, we are sellers of rallies, and a break below the bottom of the range from the session on yesterday. The European Central Bank should continue to add liquidity to the markets, and as a result we should continue to see weakness in the Euro. The US dollar should continue to be favored, and as a result we are sellers for longer-term.

GBP/USD

The GBPUSD broke down during the session on yesterday, testing the 1.5250 region. With that, it appears that the market is going to continue going lower, but we need to see the market if it breaks down below the 1.52 level in order to start selling again. If we get that move, the market would head down to the 1.50 level. Any rally at this point of time should continue to offer selling opportunities, as we see a massive resistance barrier at the 1.55 level above, extending all the way to the 1.58 level.

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EUR/USD pair forms a shooting star

EUR/USD 

The EURUSD tried to rally during the course of the day on Monday, but as you can see turned back around to form a shooting star. The shooting star suggests that the market is going to fall from here, and as a result we believe that this market will then head to the 1.11 level and after that it may go to the 1.10 level, which we believe is the longer-term target. With that, we have no interest in buying, and as a result we believe that any rally at this point of time is a selling opportunity and the Euro, as it will most certainly continue to be tendered buying the European Union and its potential deflationary problems. On top of that, the European Central Bank should continue a very loose monetary policy, and that is bad for the value of a currency as well.

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