Noventa Limited (LSE:NVTA) stock
currently offers a great money-making opportunity for traders and investors. Shorting
or purchasing opportunities creep into the markets anyway. Looking at the
chart, the current significant bullish outbreak might make the enamored bear to
short further, therefore signing a warrant that would eventually make them lose
their socks. The present market situation is a casus belli for the warlike
bull. It is time for the bull to start a battle they can win!
Technical Forecast
Where is there an
abysmal chance to rake in some profits in this market? Over a very long period
of time, this stock has been in a downtrend. Then, the price moved sideways
from the beginning of August 2012 to the middle of November 2012. During this period,
the price could not go lower any longer because it had found an agreed-upon wholesale
price territory. After much hesitation between buyers and sellers, the price
broke upward out of the indecisive range on Monday, November 19, 2012.
Technically, the Average Directional Movement Index (ADX) period 14, and the
MACD default parameters signal a Bullish Confirmation Pattern. For the ADX, the
DM+ is far above its DM- counterpart, while the ADX line itself (the black line)
is threatening to go above the level at 30. Both the MACD histogram and the
signal line are above the zero line.
Here, there are
support levels at 6.00 and 5.00: the resistance levels are at 8.00 and 9.00, as
sellers feel some qualms in the present context of the market. There could be
some bearish retracements as the prices journeys upwards. All northward
instruments experience pullbacks as prices shed some gains. And all southward instruments
get involved in short-term rallies where prices make minor gains. Speculating
for weeks often makes traders benefit from those price phenomena and
transacting in the markets based on this assumption for a long period of time.
Conclusion: Noventa shares are bound to go up. A
correct risk-controlled strategy does not guarantee huge profits in short-
period of time. Contrary to this, a judicious trading method allows a measure
of control in the face of tomorrow, which leads to average gains that are more
than average losses. This really entails discipline and some period. Only brave
market speculators who use time-tested trading techniques would experience
ultimate triumph in the markets.
This article is ended with the quote below:
If you know your limits, stay within them, and do the
best you can do with what you have, in all likelihood you'll be a success. And
considering that less than 5% of novice traders make it into the elite group of
traders who achieve enduring financial success, trading at your own pace and
during optimal times may put you with the champions rather than with the masses
who find they must feed their accounts at the end of the month to prevent their
closure. – Joe Ross
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
For more articles, go to: http://www.advfn.com/newspaper/authors/azeez-mustapha
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