Empyrean Energy stock (LSE:EME) is in a long-term bullish
trend. The bullish trend is not expected to end soon, since there could only be
consolidation and bearish correction phases in the markets, after which the
trend would resume.
It is clear that the bullish outlook started before
this year: the trend in this year has gone upwards. Right now, the price is
above the EMA 21 and the Williams’ % Range period 20 is already in the
overbought region. This shows that the trend is strong, and one can join the trend,
especially after a new shallow pullback has panned out.
It would not be a surprise when the price eventually
reaches the distribution territory at 20.000. You may want to hold onto your position
whether the price goes up following a negative report or goes down following a
positive report.
This forecast is ended with the quote below:
“The most important thing is to first make a precise calculation of the risk
involved. Always look first at the risk rather than any potential profit.” – Martin
Pring
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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