Wednesday, 29 October 2014

NYSE stock pick of the day : XL GROUP PLC

NYSE stock pick of the day

Recommendation    :           Buy above $33.85
Target                     :          $35.25

STOCK SUMMARY:-
XL Group Plc is overall in consolidate trend and is sustaining at lower levels on chart. Traders can buy the stock above the level of $33.85 which is a near term resistance level for the stock, and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $35.25.


CHART FORMATION
Technical chart of XL group stock
click to enlarge
 
Stock is in bullish trend for near term and price is testing the resistance level with breakout above the trend line with good consolidation on daily intra-day chart. Near term breach of resistance level of $33.85 is expected, which would trigger further bullish sentiment in the stock to test the levels of $35.25.

INDICATORS:-
RSI is trading with positive bias and is sustaining above the level of 50.
In MACD, signal line is sustaining above MACD line which  is indicating bullish sentiment in the stock.