The Ebay shares (NASDAQ:EBAY) are experiencing
upswings followed by downswings, but the price may go upwards determinedly this
year.
In the chart, the price broke up from the Trendlines
(January 2014), spiked upwards, and then got corrected lower. The lower
correction is therefore going into the Trendlines again, but it would not go
below the lower Trendline. From that place, the price may resume its northward journey
and move determinedly upwards. Apart from the fact that there is a demand level
at the lower Trendline, this assumption is further confirmed by the RSI period
14 which also showcases a northward propensity.
Conclusion: Ebay remains a murky market, but there could
be a protractedly directional move this year. With the situation of things, I
would prefer to be bullish and keep record of what happens in this market. I do
not need to seek the Golden Goose trading methodology, though I am open to new
trading principles. I would give those principles some baptism of fire and see for
myself whether it can stand the test of the time. Should the outcome be
negative, I would discard the principles. I am determined to keep a log of my
trading activities and look for fine signals. The log helps me in many ways:
like telling me what I did badly or right before. It is sad that some traders
do not do this.
This forecast is ended with the quote below:
“When
the market changes, then you should change, but investing according to what you
think might happen rather than what is happening is usually a recipe for
disaster.” – Van Tharp
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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