Tricor shares (LSE:TRIC) bring losses to the bulls
as they dived for most part of the year 2014. Even the tight range that
followed still showcases the supremacy of the bears.
Anyone who had gone long, or who goes long in this
market, will suffer. The ADX period 14 is above the level 60, showing the
extant stamina of the dominant bearish bias. The DM+ is clearly above the DM-;
another confirmation of the suffering of the bulls. The MACD (default
parameters) still has its signal lines below the zero line. Although the
histogram is above the zero line, it would be illogical to rely on that.
The price has the possibility of going further downwards,
reaching the support levels at 1.00, 0.55 and 0.25 respectively. The only
scenario that would bring the possibility of the price going upwards is the
condition in which the MACD signal lines and histogram go above the zero line
and the ADX DM+ goes above its DM- counterpart.
This forecast is ended with the quote below:
“So the
markets are an excellent place to make money, but unfortunately the makings
aren’t that easy.” - Ron Shear
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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