UK MARKET OVERVIEW
Italian and Spanish stocks under performed firmer equity markets elsewhere in Europe on Thursday, as traders said concerns about this week's European Parliament elections were weighing on Milan and Madrid. The FTSE opened gap up, but it did not manages to sustain at higher level. During the trading session on Thursday it showed correction and covered the gap but faced strong support from the level of 6800 , showed smart recovery from their and closed almost flat .RSI is managing to trade above 50 Level and facing resistance at 58 level crossing of it can test the level 70.In upcoming trading session FTSE can continue it's major trend crossing of the 6850 level it can test the level of 6900,6950 with support of 6800 level.
Johnson Mathey Plc
RECOMMENDATION Buy
TARGET 3365
STOCK SUMMARY:
The over all trend of Johnson Mathey Plc is bullish on chart & showing strength for further long. Stock is consolidating at higher levels with positive bias and trading near to resistance level ,crossing of the resistance level stock can show northward journey Trader can initiate the position in the stock above the level of 3310 for the target of 3365 with stop loss of 3170.CHART FORMATION
Stock is trading with support of falling trend line and consolidating near to the resistance level,crossing of the resistance level can show upside movement
Stock is managing to trade above the 50 DMA & 200 DMA with positive bias.
INDICATORS:-
RSI is trading above the level of 50 and making further good pattern for buy.
MACD & Signal line are given the break out above the zero level line ,positive movement is expected
In ADX ,Positive DI is placed above the negative DI which is confirming the strength of the current trend.
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