There is a clean indication that ITM Power shares (LSE:ITM) would sustain the bullish bias it has already started. In the last few months, the price has refused to go below the support level of 35, and therefore, the present situation is favorable to buyers.
Looking at the chart, it would be seen that the price is currently in a northward mode. The price is trading above the EMA 21 and the Williams’ % Range is in the overbought situation. This is a bull market. Any pullbacks in the price (and of course in the Williams’ % Range) would just be transient, since it is safe to say that the outlook on ITM Power shares is positive. The dog’s mouth does not get torn as a result of a mere barking. Going with the flow of this market is expected to bring some gains.
You see trading sometimes comes with easy gains. Marketing promises rarely match reality. However, there are reliable guides to experiencing balanced, happy trading career.
“Price is the ultimate indicator that matters to me though. If the market doesn’t agree with me, I won’t make a cent and price action is the only indicator that confirms that market agrees with my thesis.” – Ivan Hoff (Source: Tradersonline-mag.com)
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Ground-breaking lessons from expert traders: http://www.harriman-house.com/experttraders
No comments:
Post a Comment