A Technical wrap of FTSE 100 index and its top movers on October 23, 2019

  • Oct 24, 2019 BST
  • Team Kalkine
A Technical wrap of FTSE 100 index and its top movers on October 23, 2019

On October 23, 2019, the broader index of the London Stock Exchange ended the session 48.25 points or 0.67% higher at 7,212.49. A trend reversal was registered on the daily price chart of the FTSE 100 index, as after weeks of down-trend the large-cap gauge moved above its short-term support level of 50-day Exponential Moving Average.

Since the last couple of weeks, the London Stock Exchange’s benchmark index has been hovering in negative territory, and was trading well below its crucial short-term and long-term support level of 50-day and 100-day Exponential Moving Average, but as British MPs rejected Prime Minister Boris Johnson’s Brexit timetable on Tuesday (October 21), the large-cap reacted positively and Pound pared some gains it accumulated in the past couple of weeks.

The Moving Average Convergence Divergence oscillator started hovering above the 9-day Exponential Moving Average, a positive trend, but still, the 12-day EMA quoted below the 26-day EMA. Also, the 14-day Relative Strength Index started reflecting buying interest which was increasing in the broader index. Also, the index ended above the Middle Bollinger Band®, a positive technical indicator.

However, the broader index is still quoting below its long-term crucial support level of the 200-day Simple Moving Average.

In the October 23, 2019 trading session, stocks like Prudential Plc, EVRAZ Plc, Standard Life Aberdeen Plc, Royal Dutch Shell Plc B, CRH Plc, Kingfisher Plc, Carnival Plc, Rio Tinto Plc, Reckitt Benckiser Group Plc, and Vodafone Group Plc were the top-10 movers on the broader index of the London.  Let’s have a technical wrap of these top-10 movers on the FTSE 100 index of the October 23, trading session.

Prudential Plc

British financial services group Prudential PLC (PRU) provides long-term savings and protection products, with a focus on three markets, Asia, the US and the UK to serve more than 26 million customers worldwide. On October 23, 2019, shares of the PRU ended the session at GBC 1,437.0 and added 60 points or 4.37%. At the close, its stocks traded well above its short-term and long-term crucial support level of 50-day and 200-day Simple Moving Average Price.

EVRAZ Plc

EVRAZ Plc (EVR) is a global steel and mining group and the leading producer of the infrastructure steel products, with operations in the Russian Federation, the USA, Kazakhstan, Italy, the Czech Republic and Canada. Shares of the global steel and mining group traded 12 points or 3.20% to GBX 393.0 and traded above the short-term support level of 50-day Simple Moving Average Price, but still quoted below its long-term crucial support level of 200-day SMA.

Standard Life Aberdeen Plc

Standard Life Aberdeen PLC (SLA) is a Scotland, the United Kingdom-headquartered financial services company with operations spread across 54 locations worldwide. Shares of the life insurer ended 8.0 points or 2.78% higher at GBX 300 and traded well above its 20-day, 50-day, 100-day and 200-day simple moving averages (SMA).

Royal Dutch Shell Plc B

Royal Dutch Shell Plc (RDSB) is a Hague, Netherlands-based international group of energy and petrochemical company, which engages in exploring, producing, refining and marketing oil and natural gas. Shares of the oil and natural gas producer and refiner traded 56 points or 2.49% higher at GBX 2,305 and at the closing, shares traded well above their 20-day, 50-day, 100-day and 200-day Simple Moving Average prices. However, its 14-day Relative Strength Index hovered in the overbought zone.

CRH Plc

CRH Plc (CRH) is a leading global diversified building materials company, whose operations are bifurcated in three segments: Americas Materials, Building Products, and Europe Materials. Shares of the CRH traded 66 points or 2.43% higher at GBX 2,782 and at the market close, its shares were quoted well above 10-day, 50-day and 200-day simple moving average prices and 14-day respectively. Relative Strength Index in the stock hovered in the overbought zone.

Kingfisher Plc

Kingfisher Plc (KGF) headquartered in London, the United Kingdom, is a well-known supplier of home improvement products and services through online channels as well as a network of retail stores. The company's business operations are spread across ten countries, having a customer base of around 6 million users. Its shares traded 5 points or 2.25% above against the previous closing level to GBX 220.0 and traded well above its short-term and long-term crucial support levels of 20-day, 50-day and 200-day simple moving average price.

Carnival Plc

Carnival Plc (CCL) is a leisure travel group that operates in Europe, Asia, North America, and Australia. The company differentiated its business activities into four operating segments. Carnival Cruise Line, Holland America Line, Seabourn, Costa, and AIDA are few of the brand name that operates under Carnival Plc. Its shares ended the session at GBX 3,118 and were up by 62 points or 2.03% against the previous traded level and traded above the short-term support levels of the 20-day and 50-day simple moving average price, but traded below the 200-day simple moving average price, which is long-term crucial support level for any stock.

Rio Tinto Plc
Rio Tinto Plc (RIO) is a global metal and mining company, into exploring, mining and processing the Earth's mineral resources. As on November 01, 1973, shares of the company got admitted to the main market of the London Stock Exchange for trading and is a constituent of the FTSE 100 index. Shares of the global metal and mining company traded 79 points or 1.98% higher at GBX 4,058.0 and traded well above its short-term and long-term support levels of the 20-day, 50-day, 100-day and 200-day simple moving average prices.
Reckitt Benckiser Group Plc

Reckitt Benckiser Group PLC (RB) is a Slough, United Kingdom-headquartered leading consumer health, hygiene and homegroup that manufactures and markets household, toiletry and health care products under several famous brands like Dettol, Harpic, Air Wick, and many others. Shares of the group ended the session 109 points or 1.91% higher at GBX 5,807 and traded well above its short-term and long-term support level of 50-day, 100-day and 200-day simple moving averages, also 14-day RSI hovered in neutral zone.

Vodafone Group Plc

Vodafone Group Plc (VOD) is a telecommunication company, headquartered in the United Kingdom. It provides a range of services including mobile communication, fixed communication, unified communication, internet of things (IoT), cloud hosting and security & carrier services. Its shares ended 3 points or 1.70% higher at GBX 163 and traded above its short-term and long-term 20-day, 50-day and 200-day simple moving averages. Also, the 14-day RSI of the stock tended towards the buying interest.

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