There has been a significant northward breakout on
African Potash (LSE:AFPO), following an exponential rise in the market, as seen
on the chart. The bulls have been goosed into action, and the price may be
trading above the distribution territory of 3.00 soon thereafter.
The price broke out of the upper Trendline, and
closed above it. Is this a false breakout? Not likely, because the RSI period
14 itself has nosed above the level 50. This is therefore, a beginning of a long-term
bullish journey.
Conclusion: On
African Potash, as long as the price is above the demand zone of 2.00, the
bullish breakout remains valid. Analyzing this kind of stock would bring out
outcomes: Your prognosis may be correct and you must be disciplined enough to
follow your rules. Should you fail to have confidence in your approach to the
markets, you have already flopped before making any attempt. This is obvious
when things are going contrarily to one’s expectations.
This forecast is ended with the quote below:
“The
key is to find one expert who you can really trust. Make sure they have earned
your trust. Make sure they’ve helped others achieve great results. You don’t want
them ‘learning’ with you as a guinea pig.” – Louise
Bedford
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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