Associated British Foods plc is a diversified international food, ingredients and retail group with sales. The Company operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. The Company operates in five segments, including Sugar, Agriculture, Retail, Grocery and Ingredients. Grocery segment manufactures grocery products. Sugar segment grows and process of sugar beet and sugar cane for sale to industrial users and to Silver Spoon. Agriculture segment manufactures animal feeds and the provision of other products for the agriculture sector. Ingredients segment manufactures bakers’ yeast, bakery ingredients, enzymes, lipids, yeast extracts and cereal specialities. Retail segment buys and merchandise value clothing and accessories through the Primark and Penneys retail chains.
Official website: www.abf.co.uk
RECOMMENDATION SELL
TARGET 2840
The Major trend of ASSOCIATED BRITISH FOODS PLC it is showing strength for selling.
If it breaks the support level of 2910 then it can test support level for the target of 2840 with the stop loss of 2970.
Stock is trading in a range and trading near the trendline. Breaking the support line will lead to downside movement.
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SELL for TARGET 2835
The Major trend of ASSOCIATED BRITISH FOODS PLC 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 2865 then it can test support level for the target of 2835 with the stop loss of 2895.
RSI is trading near to 41.22 level with negative bias, in upcoming session downside movement is expected.
MACD and Signal line is sustaining below the zero level line.
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BUY for TARGET 3180
The Major trend of ASSOCIATED BRITISH FOOD 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 3142 then it can test resistance level for the target of 3180 with the stop loss of 3110.
CHART FORMATION:-
Breaking the resistance line will lead to upside movement. Stock is trading above the 50 DMA with positive bias.
MACD and Signal line is sustaining above the zero level line.
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BUY
TARGET 3300
The Major trend of ASSOCIATED BRITISH FOOD PLC it is showing strength for buying .If it breaks the resistance level then one can initiate buying position in the stock. If it breaks the level of 3262 then it can test resistance level for the target of 3300 with the stop loss of 3230.
INDICATORS:-
RSI is trading near to 61.61 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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SELL
TARGET 3150
The Major trend of ASSOCIATED BRITISH FOODS PLC it is showing strength for selling .If it breaks the support level then one can initiate selling position in the stock. If it breaks the level of 3200 then it can test support level for the target of 3150 with the stop loss of 3230.
INDICATORS:-
RSI is trading near to 49.61 level with negative bias, in upcoming session downside movement is expected.
MACD and Signal line is sustaining below the zero level line.
Skype jonsmith1091
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