Aviva PLC recommended for SELL | FTSE 100 ended up

UK Stock Pick for Today

London stocks ended the session higher, tracking gains on the other side of the Atlantic despite the somewhat mixed newsflow coming out of Greece. Greek finance minister Yanis Varoufakis was urged to speed up progress on a list of economic reforms required to appease creditors in order to unlock further aid.

The FTSE 100 ended the day up 17.03 points at 7,070.70, while the yield on the benchmark 10-year Greek bond was unchanged at 12.58%. If during the day market breaches the resistance level of 7120 upside after consolidation, then it can test the level of 7180 on the upside and on the downside it has a support level of 7080.

Stock Recommendation for the day: Aviva PLC

RECOMMENDATION SELL

TARGET 512

The Major trend of AVIVA Plc is sideways and it is showing strength for selling. It is sustaining near the support level then one can initiate the selling position in the stock. If it breaks the level of 525 then it can show downside movement for the target of 512 with the stop loss of 535.

CHART FORMATION:-

Stock has formed Head and Shoulder pattern and trading in a range and breaking its support will lead to downside movement. Stock is trading below the 50 DMA with negative bias.

INDICATORS:-

RSI is trading near to 37.42 level with negative bias, in upcoming session downside movement is expected.

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

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