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.

NASDAQ Market Overview: Stock Pick For 11th April

Market Overview

US market continued on its downtrend on Thursday after a few days rest. The Internet and Biotechnology shares were among the top two losers for the day. The NASDAQ Composite Index sank 3.13% erasing its gains of the last two months. Also, the S&P 500 Index lost 2.09% to the lowest since February 2014 end. Investors are now eyeing on Producer Price Index and Consumer Sentiment data due on Friday, to find a safe investment avenue in the market.

BULLS OF THE STREET (NYSE):

Name	Close Price ( $ )	Change %
SINOPEC Shanghai Petrochemical ADS	29.85	18.64
Cash America International	43.24	12.31
Ruby Tuesday	06.68	12.08
Aluminium of China ADS	10.22	09.54
Rite Aid	06.94	08.44

BEARS OF THE STREET (NYSE):

Name	Close Price ( $ )	Change %
Imperva	28.00	43.70
Box Ships	01.90	20.17
Voxeljet ADS	18.55	13.44
GrubHub	30.91	12.46
NeoPhotonics	06.89	12.34

Stock Pick For Today

Caterpillar Inc Del:

Caterpillar Inc Del is looking bullish on charts. Stock is in bullish trend, with the price taking support from the trend line on daily intraday chart. Near term breach of resistance level of $103.72 is expected, which would result into bullish sentiment in the stock to test the levels of $105.25. Traders can buy the stock above the level of $103.72 which is a near term resistance level for the stock, and if it manages to break this level further bullish movement is expected in this stock to test the levels of $105.25.

Stock Pick For Today 

Stock Pick For Today: Buy IBM on Dip

Analyzing the stock price movement chart of IBM Corporation, we see that the price continues to fulfill buy signal and is still unable to start correction. Senior linear regression channel is directed downwards, Jr.- turned up, which allows now consider long positions in the market. "Golden Cross"- strong (as the price is above the Ichimoku cloud), so buy orders are relevant from this point of view. At the moment, the aim upward movement is the resistance level 185.46. If the price consolidates above the first target , the upward movement may continue with a view to the resistance level of 194.91. Bullish candlestick patterns "Absorption" signaled the continuation of the upward movement. MACD turned up, indicating that an upward movement, if the indicator will change the direction of motion downward, it could signal a turn trying to start a downward correction. Stochastic is in the overbought zone, which now indicates upward movement of prices and the absence of correction. 

IBM stock price continues upward. On the current chart are advised to consider long positions with a view to 185.46. In case the price of this target has overcome, the new goal is to level 194.91. Stop-loss is recommended to set below the critical line (178.51). Closed manually longs will be the formation of a strong bearish candlestick pattern, at the turn of the MACD indicator down or if prices rebound from 185.46 level. Short positions are not relevant at the moment.