The FasJet shares (LSE:FJET) are so weak that it has the potential to continue going further downwards. It is possible that long positions on the market could go kaput. This is a bear market.
Two rams cannot drink from the same calabash. Since the bear is in control of the shares, the bull is in subjection. On the chart, the RSI period 14 and 2 Trendlines are used. In spite of the current weak rally in the market, the RSI period 14 is still below the level 50. The price recently broke below the lower Trendline, leading to a confirmed bearish continuation; but it soon went back into the previous consolidation phase. The price would possibly break below the lower Trendline again, going further downwards.
The only scenario that can invalidate this expectation is a condition in which the price breaks the upper Trendline to the upside and the RSI period 14 goes above the level 50. So the price data ought to be monitored in order to know the latest development in the price. You might benefit from paying for the data you get, for data that comes free could be unreliable.
This article is ended with the quote below:
“There is no longer any joy or pain in my trading… If you can accept that you will be wrong most of the time, then handling losses becomes a lot easier.” – Mark Williams (Source: Trade2win.com)
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Ground-breaking lessons from expert traders: http://www.harriman-house.com/experttraders
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