Friday, October 25, 2013

Top Level Price Shall Top at 15.70 in Less Than 6 Months

Top Level shares (LSE:TLDH), having broken northward significantly, would eventually top at the supply level of 15.70 within the next several months. Experience can never be bought: our experience has made us understand that when the price breaks out of the kind of protracted equilibrium zone as seen on the chart, the price is ready to gallivant towards further resistance lines.  

One just needs to know the reality in the markets before going bullish or bearish. Although optimal trading instruments may not only be determined by chart analysis, the price broke conspicuously upwards in an act of defiance at the recent bearish pressure. Last week, the price broke the EMA 21 to the upside and closed above it; while the Williams’ % Range period 20 moved into the overbought territory, affirming the bulls’ hegemony. This is a clean bullish signal and it is thus expected that the price would eventually reach the supply level at 15.70, although there could be some transient bearish pullbacks along the way.  

“I have strong conviction in my ideas but when the market proves me wrong, I let go of my ego, cut my loss, and move on.” – Joseph Fahmy

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Eye-opening trading lessons: Lessons from Expert Traders

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