Bowleven stock (LSE:BLVN) has been in a long-term downtrend,
with the inability to move significantly upwards. Someone who went short last
year would have made some easy money. Even novice traders make money when there
is a sustained bias that holds out very long.
In the chart, 4 EMAs are used. They are EMAs 10, 20,
50 and 100. The color that stands for each EMA is shown at the top left side of
the chart. All the EMAs show that the stock is weak – occasional short-term
rallies are often accompanied by southward moves. Such rally started at the
beginning of May 2014, and the price has been coming down gradually since then.
The price may reach the support level at 20.00. This
is a good chance to make some quick bucks. However, there is a possibility that
the aforementioned support level may reject further downward trend and a
sustained uptrend could start from there.
It is imperative that you take advantage of the
price action with good timing. Your trading results have to do with the end
results including possibilities. Profit-making
is not the birthright of Smart Money only.
This forecast is ended with the quote below:
“Our
low confidence can drive us further and further away from the market and many
potentially successful traders have given up completely, perceiving themselves
as failures but not recognizing that the reason for it is purely because they
were not prepared and they failed to practice discipline.” –Razi Hammouda
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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