There
is now a perfect opportunity to make money on Aquarius Platinum Limited. The
company shares (LSE:AQP) are now ready to take off and skyrocket, following a
long period of battering by sellers. This
is valid because the more extended the selling pressure is and the more the
price finds more robust demand zones, the more probable it will be for the
price to stop going down further and give long signals as the bearish pressure
becomes ineffectual. Attempts at dependability on the markets are what we know
as chart analysis (something used in locating the next possible bias).
Technical Forecast
The
company stock has been an extended downtrend. The price has been falling since
March 2012. From a peak of 160 in March, the price fell to a low 34.4 on August
12. This would have richly rewarded short-sellers. The trend is your friend
indeed while it lasts! It now appears that the price will not continue its
downward push as explained here. Several bullish attempts failed in the month
of August as the Stochastic fell far into the oversold region in the same
month. However, the price has constantly failed to find new significant lows. The
Exponential Moving Average (EMA) 21 period and the Stochastic default parameters
are used on the chart below. The price
has now closed above the EMA 21 as the Stochastic is heading upwards. This is a
good BUY signal.
Starting
from August 6, a solemn bullish attempt occurred and has remained valid till
now. Everything on the chart is now pointing northwards. This stock is till very cheap for
those who want to buy it. Those who catch the early trend are the ones that
will benefit from it the most. As it was being analyzed, the stock was
trading at 41.36. The demand zones that bears find it difficult to rape are at
41.00 and 39.50, as the supply zones at 42.00 and 42.50 will soon come under
fire. Take profit levels are invariably
found with the rule of the thumb, so that the possible expectancy of a position
is measured. Honestly, one cannot give a precise target level for this market
as the big rally that will ensue would disrespect distribution zones and
continue moving up, since the positions that do not go up protractedly would be
smoothed when they are yet to meet their take profit levels. I am convinced
that analyses that are easy are the ones that would be easily stuck to with
determination.
Conclusion: Aquarius Platinum is one
market in which one can go long right now and get rewarded eventually. While
the world is busy pointing accusing fingers at their politicians and
regulators, traders and investors are active in the markets, making money.
This
article is ended with the quote below:
“If you're working
like a Trojan, learning how to trade, just know that a brighter future awaits
you. A time where you won't
have to exchange hours for dollars and where you can live by your wits, earning in a few
hours what others earn in a month. With dedication and support, that time may
be closer than you think.” - Louise Bedford
NB: You would be exposed to
world-class, cutting-edge, and top-notch trading experiences here: www.advfn.com
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Copyright (C) ADVFN PLC
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