Tuesday, 7 October 2014

U.S. stock pick of the day : VF CORP

US stock pick of the day

Recommendation     :           Sell below $65.50
Target                     :            $64.10

VF Corp is overall in bullish trend and is sustaining at higher levels on chart. Traders can sell the stock below the level of $65.50 which is a near term support level for the stock, and if it manages to breach this level further bearish movement is expected in this stock to test the levels of $64.10.

Stock is in consolidate trend for near term and price is expected may break the support from the trend line with double top pattern formation on daily intraday chart. Near term breach of support level of $65.50 is expected, which would trigger bearish sentiment in the stock to test the levels of $64.10.

RSI is trading with negative bias and is sustaining below the level of 55.
In MACD, signal line is sustaining above MACD line which  is indicating bearish sentiment in the stock.