London stocks settled near 15- year high on Friday as improving data from the Eurozone. In economic data on Friday, Markit's Eurozone composite purchasing managers' index rose to a seven-month high in February. The 'flash' reading increased from 52.6 to 53.5 this month .
The FTSE 100 index ended with a gain of 0.4% to 6915.20, as market was near its record high of 6930.20 was reached in December 1999. If during the day market is breaching the resistance level of 6930 on upside after consolidation, then it can test the level of 7010 with the support of 6880.
Morrison (WM) Super Markets Plc
CHART FORMATION:-
Stock is trading near its resistance and breaking above that
trendline will lead to buying in the chart. Crossing the resistance
will lead to upside movement. Stock is trading above
RECOMMENDATION BUY
TARGET 195
The Major trend of Morrison (WM) Super Markets Plc is sideways and
it is showing strength for buying. If it moves above the resistance
then one can initiate the long position in the stock. If it breaks
the level of 190 upside then it can show upside movement for the
target of 195 with the stop loss of 186.
INDICATORS:-
RSI is trading near to 70.13 level with positive bias, in upcoming
session upside movement is expected. Volume is also increasing as
pattern is near its breakout.
MACD and Signal line is sustaining above the zero level line.
