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Aviva Plc offers Buy opportunity: Target 414 PDF Print E-mail
Written by Sam Coventry   
Tuesday, 26 October 2010 08:54

FTSE 100 under pressure this morning.



Aviva Plc
(LON:AV) has been tipped to head higher on a technical basis by the technical analysis team at spread betting firm Delta Index.

Delta Index have called a Buy on Aviva shares after noting a MACD crossover.

Delta have called a Buy at 403 while a stop loss should be set at 397 should the market turn.  (>> Download the GFT PDF on how to use candlesticks to identify a potential reversal).

An initial take profit target has been advised at 414.

Aviva Plc shares opened the day lower in line with a subdued FTSE 100 which was called to open lower this morning as investors await domestic Q3 GDP data to determine their next moves followed by figures from the US later in the session.

US stocks rose again driven by the weaker dollar on continuing expectations of a further round of US quantitative easing but Asian stocks were trading lower this morning.

Looking at the corporate news we see that ARM Holdings has announced Q3 results that saw a 60% rise in PBT to £38.8m on normalised revenues ahead 34% at £100.4m.

In dollar terms, revenue increased 29% to $158.1m, all of which appear ahead of expectations.

It added that the period had been good and entered the final quarter with positive momentum and expects sequential group dollar revenue growth in Q4.

Further out, despite the uncertain macro-economic environment, ARM remains well-positioned for growth with leading semiconductor companies increasingly adopting its technology in a broadening range of end-markets.



Last Updated on Tuesday, 26 October 2010 08:56
 

Spread Betting Lessons - Cut out the emotion!



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