Stock For Today: IBM Technical Picture

Stock For Today

Analyzing the stock price movement chart of IBM Corporation, we see that the price may start turn upward correction for the purpose of Kijun -sen. Senior linear regression channel is directed upward, Jr. - also sent up, that does not allow to consider short positions in the market. "Dead Cross" - strong (as the price is below the Ichimoku cloud), so sell orders are relevant at this point. At the moment, the aim downward movement is the support level 185.46. If the price is fixed below the first target, the downward movement may continue with a view to support level 177.72. Bearish candlestick pattern "Absorption "signaled the continuation of the downward movement. New model bullish "Absorption" indicates a possible early upward correction. MACD turned up, indicating that an upward movement, if the indicator is developed downward, it can attest to the completion of the corrective movement. Stochastic entered into oversold that signals now on a downward correction mood and weaknesses. Consider short positions can not turn down any previous linear regression channel. Rebound from the critical line can trigger further downside movement. Youngest chart are advised to consider the downward movement to the support level of 185.46, while fixing below the Tenkan -sen. When opening/fixing prices above the Kijun-Sen will be the actual upward movement to the resistance level of 194.91.

LSE Market Trend with Stock Picks Today

Market Trend Today: European stocks fell at the open on Wednesday, hit by heavy losses on Wall Street and as results from local blue chips such as brewer Carlsberg and French bank Societe Generale showed the Ukraine crisis was starting to hurt large western companies. FTSE opened gap down and twice took support from 6765 level and showed smart recovery from the low and manages to closed with moderate loss.In upcoming session range bound movement is expected. Breaking down to the 6750 area, Because of this, it appears that the market is going to pull back a little bit correction can be seen and it can test 6700 and 6650 level.

Stock Pick For Today

Jhonson Mathey Plc: Jhonson Mathey Plc looking weak on charts and did not manages to sustain at higher level and from few trading session it has been trading in negative teritory. It is likely to show downside movement in upcoming session. Forming descending triangle ,Breaching of support level i.e 3280 downside movement is expected. Trading below 50 DMA and 89 EMA with negative bias breaching of near support level can show down side movement. One can make short position in the stock below the level of 3280 with sl of 3315 for the target of 3225.

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UK Market Updates and Stock Pick For Today

Market Updates

European stock market rose on Thursday, as signs of a resurgence in corporate takeover activity offset lingering worries over Ukraine. The FTSE opened on gap up and made a intraday high at 6724, showed volatile movement and managed to closed above 6700 level with a gain of 28 points  As Index is managed to give closing above 50 DMA & 200 DMA with RSI is trading above 50 level with positive bias, in near future it can test the level of 6860 after crossing of 6750 level with near support level at 6650,6550.

Stock Pick For Today:

Burberry Group: Burberry Group is looking bulllish on charts and  given the break out of support of falling trend line, consolidating near to resistance level.  Stock is facing strong support of 1435 level and sustaing above that with positive bias. Stock is consolidating near to the resistance level, crossing of it upside movement is expected. Stock is trading above it's 200 DMA & 50 DMA with positive bias. Trader can initiate long position in it above the level of 1455 with sl of 1435  for the target of 1495.