Hot Share Market Picks for Intraday Trading on September 8th, 2010 (08/09/2010): Buy moser Baer
September 8, 2010 by admin
Filed under Analyst's Corner, General
Hot Stock Market Picks for Intraday Trading on September 8th, 2010 (08/09/2010): Buy MoserBaer
On the Daily Charts, MOSERBAER made a Long White Candlestick after a Hammer, with a good spurt in volume. The prices tested their important resistance of 68.70 by making a high of 68.70 for the day.
Stock moved above its 50-Days SMA (Simple Moving Average) of 65.94 yesterday and its 20-Days EMA (Exponential Moving Average) is quoting at the level of 64.74. 14-Days RSI (Relative Strength Index) is quoting at 60.65 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).
The Positive Directional Index (28.01) is above the Negative Directional Index (17.71), ADX (Average Directional Index) has gained strength and is quoting at 15.41 on the Charts. ADX’s value above 20 and near 40 indicates that the underlying trend is strengthening.
Hence, it is recommended to buy MOSERBAER only if it trades above 68.70 for the Targets of 70.90 & 72, with the strict Stop Loss of 67.70.
Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
