Royal Mail (LSE:RMG) has become a hot cake in that
it offers investing possibilities to interested ones. However, a closer look at
the current price action suggests that bearish attempts cannot be overruled.
Generally, the bias on the chart is bullish. The
price is now in a sort of consolidation, while the RSI period 14 shows the
buyers’ determination to push the price upwards. It is thus possible that the
price break above the Upper Trendline, as the RSI trades higher. Should this
happen, the price may go towards 1380 within the next several months. Should
the price break the Lower Trendline to the downside, and the RSI crosses the
level 50 to the downside, the price would drop towards the support level at
180.
Conclusion: This
stock would possible go up. There are no guarantees. We triumph in the markets
since we know how to handle unpredictability as possibilities instead of
looking for guarantees. Trading principles that control risk are welcome; for where
there is no risk, there is no possibility of gains.
This forecast is ended with the quote below:
“Who cares
if you make a bad decision, just make one! If you are wrong, you’ll learn from
it and make a better decision the next time.” – Joseph
Fahmy
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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