ADVFN shares (LSE:AFN) are bearish: they may go
further south until they reach the low at 2.50. Should that low (demand level) succeed
in checking further bearish move, the shares may bounce upwards from there. Someone
says bull markets are fun. I say bear markets are also fun, aren’t they? In
bear market, short-sellers can earn a fortune.
In the chart, there are EMAs 10, 20, 50, and 200.
The color that stands for each EMA is shown at the top left part of the chart.
As you can see, all the EMAs indicate the current weakness of the market. It is
not wise to go long now… until the price becomes even cheaper. Meanwhile, the
bears are enjoying the ride.
Conclusion: ADVFN
shares have been falling since early February 2014, but they may reverse at the
aforementioned demand level. Should market players judge the fundamentals of a
company as satisfactory, certain bulls may intervene and purchase the shares at
a lower price, and this could halt further bearish plunge as the shares gain
some stamina.
This forecast is ended with the quote below:
“So often, traders and investors that simply follow the
news and fundamentals think that the current trend can last forever, but we all
know that is not true.” -
Nicholas Santiago
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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