|UK Stock pick of the day|
RECOMMENDATION : BUY
Euro Money Instiution Invesment is consolidating with support of falling trend line and facing resistance of it's 200 DMA crossing of it can show upside movement .The major trend of stock is bearish and it's showing Bounce back from the bottom one can make long position with the strategy of buying from bottom .Stock has gaining strength for buying by showing accumulation with good volumes crossing of the resistance level i.e. 1115 it can show the tgt of 1200 with 50 DMA acting as good stop loss level at 1160.
Stock has showing consolidation with support of the falling trend line, crossing of it can show upside movement.
It's managing to trade above 50 DMA & facing resistance from 200 DMA i.e 1115 crossing of it can show the level of 1200.
RSI is trading above the level of 50 and looking further bullish and facing resistance at 62 crossing of it can test the level of 70.
Fast line has given the break out above slow line and it's sustains above the zero level line with the positive bias.
DI has trading above 25 level, positive DI is about to give break out above negative DI which is indicating strength in the stock for buying.