In the past several months, Leni Gas stock (LSE:LGO) has been a bear market. The bullish attempts that happened in April and May, 2013, proved to be futile, for it merely happened to be a rally in the context of a downtrend.
On the chart, the price went below the EMA 21 last month, and it has even gone further downwards this month. The Williams’ % Range period 20 is in the oversold situation. Now, that does not mean that the market is expected to bounce upwards (for any upwards bounce would merely be another short-selling opportunity); it means the stock is weak and will continue to trend downwards. So sell the stock to the demand level of 0.2.
According to Dr. Chris Kacher… what does not kill you makes you stronger if you are willing to look for solutions…. The solution on this market is to sell your stock, not to buy it.
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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