The price on the Xcite Energy (LSE:XEL) is ready to go upwards this year. The price has survived some turbulence and would eventually shake off the effects. The hawk is ready to go on a journey, and a strong wind blows in its direction. The hawk says: “Time to go!”
The EMA 21 and the Williams’ Percentage Range period 20 are used for this analysis. The price has crossed the EMA 21 to the upside and closed above it – going upwards. The Williams’ % Range is clearly above -40; showing some upwards strength. Though heading downwards temporarily, the Williams’ % Range would eventually head upwards. All these point to the possibility of a protracted northward bias, meaning that Xcite Energy would go upwards this year. We would also pay attention to what fundamentals may say. Not all fundamental figures have effects on the market, but when there is a conspicuous effect, the market may move upwards or downwards with no regards to near-term significant and psychological accumulation and distribution territories.
This article is ended with the quote below:
“… Being a rocket scientist (or any other form of brainiac) provides no inherent advantage in the trading game. Rather, street smarts and decision making skills under conditions of uncertainty are more useful in the financial markets.” - D.R. Barton, Jr.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
For more articles, go to: http://www.advfn.com/newspaper/authors/azeez-mustapha
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