Monday, July 29, 2013

ACTA Doesn’t Look Sexy

ACTA shares (LSE:ACTA) do not look attractive right now, and the best option is to stay away from the market until a clear bias is formed. The market is currently in an equilibrium phase and there no significant victory between the bulls and the bears.

The ADX line is below the level 20, showing a trendless market, while the DM+ is not conspicuously above the DM- (being an unstable position). The MACD (default parameters) has its signal lines below the zero line and its histogram above the zero line. This shows mixed signals on the chart, and therefore, it is better to step aside until there is a bearish or bullish confirmation pattern in the market.

Sadly, no-one can forecast what would transpire except it transpires. What you see on the chart is only historical data. Overconfidence to assume a bias before it actually happens may force you out of the markets quickly. So you need to set only realistic goals and accumulate profits in a slow and steady way.

This piece is ended with the quote below:

“Trying to have control, having all the answers, and always being right are the worst character traits possible for a trader.” - Brian Lund

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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