Tuesday, July 22, 2014

Angle - A Bear Market

Angle stock (LSE:AGL) is a bear market, having been caught in a long-term bearish outlook. Granted, there would be occasional short-term rallies, which would be followed by the continuation of the bear market.

The ADX period 14 is around the level 20, showing that the market is currently without momentum. But momentum would soon return to the market. The ADX DM+ is below the DM-, testifying to the bears’ supremacy. The MACD (default parameters) has both its histogram and signal lines going below the zero line. This is a Bearish Confirmation Pattern in the chart, and the price may go more south, reaching the accumulation territories at 70.00 and 65.00 respectively.

This kind of market is favorable to sellers, but it is better for them to view the bearish run on a long-term basis. Being disturbed about your returns on daily basis may not be in your best interest as treating them as something you get on a long-term basis.

This analysis is ended by the quote below:

“Once I fully accepted that I, nor anyone else, is able to consistently and profitably predict anything, and I turned it over to just trading price, my results improved drastically and my outlook was much, much better.” – Larry Tentarelli

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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