FTSE Daily Forecast | HARGREAVES LANSDOWN PLC Sell Call

London stocks finished a wavy session on a small scale in favourable territory on wednesday, as investors risk appetite was keep tight rein oby pre-election uncertainity and vigilant comments from Federal Reserve chair Janet Yellen. Corporate earnings were mostly pleasing by investors on Wednesday, with blue chips Sage Group, Imperial Tobacco, Legal & General and GKN all impressing, though Sainsbury's disappointed with its first annual loss in a decade.

The FTSE 100 ended the day in green by 0.09 % at 6,933.74, regaining its health slightly after put an end to one month low the preceding session. If during the day market breaches the support level of 6900 downside after consolidation, then it can test the level of 6820 on the downside and on the upside it has a support level of 6960.

HARGREAVES LANSDOWN PLC

RECOMMENDATION SELL

TARGET 1112  The Major trend of HARGRAVES LANSDOWN Plc is sideways and it is showing strength for selling. If it breaks the support level then one can initiate the selling position in the stock. If it breaks the level of 1167 then it can show downside movement for the target of 1112 with the stop loss of 1202

CHART FORMATION:-

Stock is trading in a range and breaking its neckline will lead to downside movement. Stock is trading below the 50 DMA with negative bias.

INDICATORS:-

RSI is trading near to 35.90 level with negative bias, in upcoming session downside movement is expected.

MACD and Signal line is sustaining below the zero level line.