|FTSE stock pick of the day|
The primary trend of St. James Place Plc Ord is Bearish and from last few trading session stock is showing strength for buying and looking strong on charts. Stock is facing support from the level 650 sustaining above that can show northward journey.One can initiate the long position in the stock above the level of 671 with Sl 650 for the target 725.
Stock is forming inverse H&S pattern which is reversal pattern , crossing of the neck line it can give test the level of 725 .
Stock is sustaining above 50 DMA and facing support from 200 DMA crossing of it can show upside movement
RSI is trading near to the level of 50 and showing consolidation , Breaching of the resistance level can manage to test the level of 70.
In ADX is trading near to25 level , Positive DI is about to give the break out above negative with positive bias.
Macd & Signal line is about to give break out above Zero level line which is indicating strength in the stock.