The kind of chart pattern that is seen on Globo (LSE:GBO)
shows that now is one of the best times to buy long the shares. The bullish bias
in the market is still intact – only that there is a good pullback which offers
and excellent buying opportunity.
Further northward move was challenged in this month, and
according to my price analysis, 4 EMAs are used. They are EMAs 10, 20, 50 and
200 (the color that stands for each EMA is shown at the top left side of the
chart). The EMAs support a bull market, and the pullback towards the EMA 20
offers a long trade possibility. With a long trade in place, one could place a
stop around 64.500. This is a great way to fry the bear which has already made
itself vulnerable. We have already been planning to roast the game; it now rubs
itself with vegetable oil and sits beside a fire.
Conclusion: In an
imperfect market, Globo shares may assume another lease of bullish trend and go
determinedly upwards. Why do we prefer perfection in the imperfect world? We ought
to know how to face uncertainty successfully, rather than seeking certainty (which
is illusory). Looking for assurance in everything will not be beneficial in the
long run. It cannot benefit you in trading, though it may help in some areas of
human endeavors. In trading, uncertainty has become our permanent ally.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
No comments:
Post a Comment