It is true that the Urals
Energy stock (LSE:UEN) is worthy to be owned as explained in this forecast. Going
through the historical data, it would be noticed that each stock price would
record distinct open and close prices. One would do well to ride this stock to
the skies with perseverance. Perseverance remains the gateway to breakthrough,
not listless resignation.
Technical Forecast
Technically, 4
Exponential Moving Averages (EMAs) are used here. They are EMAs 10, 20, 50 and
200. The color representing each EMA is indicated at the top left side of the
chart below. We can see that the market was in a long-term down-trend before
the current scenario. In August 7, 2012, the Urals Energy market reached an all
time low of 4.375. Since then further bearish efforts proved futile. This is an instance of a classic buying. When
there have been a few flops in the recent bearish attempts, it was confirmed
that the trend would change upwards. This bullish scenario is now valid as the
EMA 20 has already crossed its EMA 50 counterpart to the upside, with the price
closing above them. The EMA 10 itself is also pointing upwards.
It is expected
that the price would eventually close above the EMA 200: a Golden Cross (it
takes a long time for the EMA 200 to change to an uptrend, and when it happens
the bullish run would have gone very far). The price was at 6.25, as I wrote
this forecast. There are demand zones at 5.50 and 5.00, whereas the supply
zones at 7.00 and 7.50 are vulnerable. We would do well to consider the market
pressure, since price movements can happen rapidly, and this might not be
anticipated by most traders. A northward journey could consist of several
bullish candles that show as a combination of bearish and bullish bars in
smaller timeframes.
Conclusion: Speculators
are aware of the fact that the price can go protractedly north on a big timeframe,
though there can be some alluring pullbacks on small timeframes, and
conversely. In spite of some pullbacks that would be experienced soon, the
Urals Energy stock would irrevocably trend upwards. You are not advised to
short this market, because the more significant the extant bullish pressure,
the more possibly would your short orders go into negative zones.
This article is ended with the quote below:
“Knowing the underlying gripping reasons why you want to
trade will greatly support your success.
Know what your purpose is for trading and it will go a long way in the
service of you goals.” – Dr.
Woody Johnson
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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