The price on Northern Petroleum (LSE:NOP) has recently been in a perpetual downward bias. Things remain pessimistic about the company’s shares, favoring only short-sellers. For the bulls that refuse to smooth their positions, we do not know how many people would be eventually wet by the incessant rain.
The stock might pretend to be moving northward and afterwards nosedive – and then enabling the bears to make fortunes. 4 EMAs are used for this analysis (EMAs 10, 20, 50 and 200). The color that stands for each EMA is indicated at the top left side of the chart. All the Exponential Moving Averages are sloping downwards – confirming the bearish bias and the bears’ domination. This is expected to continue and reach the accumulation zone at 25 in the foreseeable future. Any rallies are supposed to be short-term in nature.
Trading mindset workshops have revealed that we need to focus more on risk control. If you’re unable to go long, then go short.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
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