European stocks market overview

Berendsen Plc

MARKET OVERVIEW
European stocks were mixed after data revealed an increase in German unemployment and a slowdown in the rate of growth in the Eurozone's money supply. The FTSE had a slightly positive session after initially falling during the open on Wednesday and manage to closed at 6851 with gain of 6points.In near future it's looking bullish on charts and consolidating above the support level of 6800 with positive bias, RSI has managed to give the break out above the 50 DMA and MACD & Signal line is managing to trade above the zero line with positive bias .FTSE100 is facing resistance from the level of 6890 crossing of it can test the level of 7000 with the support level of 6800.

STOCK SUMMARY:

Berendsen Plc is accumulating from lower level and looking good for buy in daily & intraday charts.It's  facing resistance from the 89 EMA and consolidating near to the resistance level  if it manages give breakout above it crossing of it can show upside movement in the stock. Trader can initiate the long position in the stock above the level of 1003 for the target of 1023 as it has facing 200 DMA and can once test the level crossing of it can show further upside movement can give the target of 1053 with sl of 989.

INDICATORS:-

RSI is trading  above the level of 50 with positive bias & looking further bullish in near future it can test the level of 70. 

MACD & Signal line are given the break out above the zero level line ,positive movement is expected

In stochastic K% is trading above the D% which is indicating buyers are active.

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