piponomics

FTSE Market Technical Report

Long
LSE:AV.   AVIVA PLC ORD 25P
Stocks and Gilts rose, but prices for industrial metals and the US dollar retreated after the minutes of the US central bank’s policy meeting were released overnight.

The initial reaction from many traders and economists to the Federal Reserve’s minutes was that a December interest rate hike was now quite possible, but for some – especially the former – apparently not certain.

The FTSE 100 ended the day in green by 126 points at 5900. In the day market, if it crosses the resistance level of 5950 on upside after consolidation, then it can test the level of 5970 and the immediate Support level is 5830.


AVIVA PLC
RECOMMENDATION BUY TARGET 490
The Major trend of AVIVA PLC it is showing strength for buying If it crosses the resistance level then one can initiate buying position in the stock. If it crosses the level of 480 then it can test level for the target of 490 with the stop loss of 470.

CHART FORMATION:-
Stock is trading in a range and trading near the trend line . Breaking the support line will lead to upside movement. Stock is trading above the 50 DMA with a negative bias.

INDICATORS:-
RSI is trading near to 62 levels with a positive bias, in upcoming session upside movement is expected.
MACD and Signal line is sustained above the zero level line.

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