Get prepared for a nice bullish ride on Next stock (LSE:NXT),
which may hold out for a few months, bringing satisfactory profits for the
buyers. This market has long since been a bull market, punctuated by transitory
bearish corrections.
The price has already broken above the upper Trendline,
closing above it and trending further upwards. The Trendline itself is a strong
hurdle to any strong bearish correction along the way (which will eventually
prove abortive, anyway). The RSI period 14 is slightly below 50. Yes, the
market is poised for a bullish ride and the price may break more and more
resistance levels in the coming months, breaking them to the upside.
We cannot make money from historical data and we cannot make
money from the data that is yet to come. What we can do is to attempt to make money
from what the price is doing right now, provided it meets our entry criteria. When a
trading condition is met, it does not mean that we must trade anyway. It only
means we want to take the trade provided it is sensible enough.
This forecast is ended with the quote below:
“By definition, a trade with a loss to the amount of the planned
risk where all the rules have been correctly applied is a flawless trade.” – Dirk
Stiller
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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