Graphene NanoChem stock (LSE:GRPH) has been a highly
trending market; a favorable condition for traders and investors. You need
trend before you harness gains in the market, and this is what exactly Graphene
NanoChem offers.
If the chart is moved backwards by several months,
it would be seen that this market trended downwards earlier this year. Then, it
was a nice and a predictable move. Right now, the price shot upwards out of the
range that was formed in this month (note the upper and the lower Trendlines). This
breakout has been so hot and serious. The RSI period 14 itself is already above
80, the overbought area. This is not an understatement. What does this mean? It
means that there could be some pullback any moment from now, but it would be
fleeting, for the price would skyrocket again. The ultimate target is at the
supply level of 140.00.
Conclusion: This
market is trending in a significant mode and it is a boon to buyers. Although this
is technical analysis, some fundamental issues would have contributed to this.
Besides, no-one would claim there is some insider knowledge. A religionist
claims he has not swallowed any saliva during his recent fasting; is there any
witness to the event in the gullet?
This forecast is ended with the quote below:
“The
fact that 90 per cent of all traders lose money in the markets shows that
mental training is missing in trading.” – Thilo
C. Herr
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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