London stocks gain and able to close above the 7000 level for the
first time over two week on Thursday, as shooting match in Greece &
continued M&A speculation. The stocks like Burberry and
Intercontinental Hotels Group rose because of the hopes generated in
M&A.
The FTSE100 closed in green gaining 1.12% from previous day to close
at 7015.36. Easiness, concern about Greece, and upbeat Labor market
data pushed the FTSE upward. If during the day market is breaches
the resistance level of 7060 upside after consolidation, then it
can test the level of 7120 on the upside and on the downside it has a
support level of 7010.
INTU PROPERTIES PLC
RECOMMENDATION BUY
TARGET 375
The Major trend of INTU PROPERTIES Plc is sideways and it is showing
strength for buying. It is sustaining above the resistance level then
one can initiate the buying position in the stock. If it breaks the
level of 363.40 then it can show upside movement for the target of
375 with the stop loss of 355.
CHART FORMATION:-
Stock is trading near its resistance and Crossing the support will
lead to upside movement. Stock is trading above the 50 and 200 DMA
with positive bias.
INDICATORS:-
RSI is trading near to 59.79 level with positive bias, in upcoming
session upside movement is expected.
MACD and Signal line is sustaining above the zero level line.
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