Market Overview:-
US equity market ended on a positive note on Thursday with cease fire news between Ukraine and Russia and a pick up in oil prices. The Dow Jones industrial average gained 110.24 points or 0.62% to close the day at 17972, NASDAQ Composite gained 56.43 points or 1.18% to close the day at 4857.61 and the S&P 500 Index gained 19.95 points or 0.96% to end the session at 2088. Consumer sentiment data is due on Friday which is expected to come positive for the US economy and lead the market to the new higher levels.
US equity market ended on a positive note on Thursday with cease fire news between Ukraine and Russia and a pick up in oil prices. The Dow Jones industrial average gained 110.24 points or 0.62% to close the day at 17972, NASDAQ Composite gained 56.43 points or 1.18% to close the day at 4857.61 and the S&P 500 Index gained 19.95 points or 0.96% to end the session at 2088. Consumer sentiment data is due on Friday which is expected to come positive for the US economy and lead the market to the new higher levels.
BULLS
OF THE STREET (NYSE)
|
Name
|
Close
Price ( $ )
|
Change
%
|
|
Orbitz
Worldwide
|
11.72
|
21.83
|
|
Luxosoft
Holding
|
48.86
|
13.21
|
|
RTI
International Metals
|
27.31
|
12.43
|
|
GNC
Holdings CI A
|
48.66
|
12.25
|
|
Schweitzer-
Mauduit International
|
44.01
|
10.49
|
Stock pick of the day : ALLEGHENY TECHNOLOGIES INC
 |
| Technical Chart |
Recommendation Buy Above $33.81
Target $35.50
STOCK SUMMARY:-
Allegheny Technologies Inc is overall in bearish trend and is sustaining at lower levels on chart. Traders can buy the stock above the level of $33.81 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 $35.50.
CHART FORMATION
Stock is in consolidate trend for near term and price is sustaining above trend line with the expectation of level breakout on daily chart. Near term breach of major resistance level of $33.81 is expected which would trigger further bullish sentiment in the stock to test the levels of $35.50.
INDICATORS:-
RSI is trading with positive bias and is sustaining below the level of 50.
In MACD signal line is sustaining above MACD line which is indicating bullish sentiment in the stock.
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