London stocks finished in the red on Friday, after scratching out earlier gains subsequent some weaker-than-expected economic data from the States. Bwin surges, Coca-Cola HBC helped in erasing earlier gains.
The FTSE 100 ended the day in red 12.55 points at 6,960.49, after investors were taking best shot to have a hunch the time frame for a Federal Reserve rate hike in light of unfavorable data on industrial production & consumer confidence. If during the day market breaches the support level of 6930 downside after consolidation, then it can test the level of 6870 and the immediate resistance level is 6970.
STOCK TO PICK - INTERNATIONAL CONSOLIDATED AIRLINES PLC
RECOMMENDATION BUY
TARGET 575
The Major trend of INTERNATIONAL CONSOLIDATED AIRLINES PLC it is showing strength for buying. If it breaks the resistance level then one can initiate the buying position in the stock. If it breaks the level of 569 then it can show upside movement for the target of 575 with the stop loss of 563.
CHART FORMATION:-
Stock is trading in a range and breaking its neckline will lead to upside movement. Stock is trading above the 50 DMA with positive bias.
INDICATORS:-
RSI is trading near to 53.94 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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