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.