Randgold Resources shares (LSE:RRS) were bullish at
the beginning of this year, before the market was caught in a 3-month
correction which lasted until the end of May 2014. Since the beginning of June
2014, the market has been going upwards, and it is expected to continue doing
that for the rest of this year.
The correction that occurred from March to May, 2014
merely gave a good opportunity for more bulls to take advantage of the bullish trend
would pan out for the rest of this year. In the chart, 4 EMAs are used, and
they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown
at the top left corner of the chart. At the present, the EMAs 10, 20, and 50
are sloping upwards while the price is above them. This is a strong bullish signal.
The EMA 200 provides a strong support for the bull –
a morbid opposition to the bears. You may want buy long and hold the shares till
around December. An astute speculator has come to terms with the vagaries of
the market, and he would not hesitate to smooth his order when things do not go
in his direction.
This forecast is ended with the quote below:
“Your
psychological risk appetite fluctuates depending on circumstances — it does not
stay at some fixed level in your personality.” - D. R.
Barton, Jr.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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