Strategic Natural Resources shares (LSE:SNRP) remain
upbeat as they struggle to shrug off the influence of the recent bearish trend
on them. Should the price go above the market level of 10.00, and then above
the EMA 200, it would be the start of a long bullish journey.
There are 4 EMAs on the chart – EMAs 10, 20, 50 and
200. The expected Golden Cross on the chart would be a new era for buyers, if
it could happen. For this to be valid, the price ought to stay above the
distribution territory of 15.00 within this month or next month. When this
happens, there would be a confirmation of the bullish signal in the market. Buyers
may continue to bull northward.
Conclusion: It would
be ok to buy long here and ride the stock for as long as this new bias lasts. Unfortunately,
some do not possess the fortitude to do this. Trading is war and the market is
the battlefield. No wonder some called their trading stations ‘war rooms.’ They
say that if you do not know who you are, the stock market is an expensive place
to find out.”
This forecast is ended with the quote below:
“Those
who can’t keep things simple typically pay those who can in the financial
world.” – Sam
Seiden
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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