US equity market ended down the month on a sharply lower note. The key market indexes struggled at
the start after a disappointing GDP report for the fourth quarter introduced deteriorating global growth
outlook. The Dow Jones Industrial average lost 251.90 points or 1.45% to close the session at 17165,
NASDAQ Composite lost 45.17 points or 1.03% to close the session at 4635 while the S&P 500 index
lost 26.26 points or 1.30% to end the session at 1995. ISM manufacturing data is due on Monday,
which is expected to come negative for the economy to continue the bear phase in the market.
BULLS
OF THE STREET (NYSE)
|
Name
|
Close
Price ( $ )
|
Change
%
|
|
Shake
Shack CI A
|
45.90
|
118.57
|
|
Infra
REIT
|
26.60
|
15.65
|
|
Gigamon
|
18.41
|
14.56
|
|
Manpower
Group
|
72.88
|
12.30
|
|
Cencosud
ADS
|
07.53
|
11.89
|
BEARS
OF THE STREET (NYSE)
|
Name
|
Close
Price (
$ )
|
Change
%
|
|
Green
Dot CI A
|
15.25
|
23.17
|
|
Deckers
Outdoor
|
66.05
|
19.72
|
|
Eldorado
Gold
|
04.78
|
14.18
|
|
Unisys
|
21.93
|
13.25
|
|
Graham
|
20.69
|
10.59
|
ACTAVIS
PLC
Recommendation
Sell Below $265.85
Target
$258.50
STOCK
SUMMARY:-
Actavis
Plc is overall in bullish trend and is sustaining at higher levels on
chart. However, traders can
sell the stock below the level of $265.85
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
$258.50.
CHART
FORMATION
Stock
is in bearish trend for near term and price is taking support on
trend line with the expectation of
formation of rounding top pattern
on daily chart. Near term breach of major support level of $265.85 is
expected which would trigger further bearish sentiment in the stock
to test the levels of $258.50.
INDICATORS:-
RSI
is trading with negative bias and is sustaining at the level of 50.
In
MACD signal line has cross-over MACD line downside which is
indicating bearish sentiment in the
stock.
