Atlas Mara stock (LSE:ATMA) has broken downwards as
a result of selling pressure that takes the price below the supply zone at
10.50. This has resulted following a long period of consolidating and very
thing market activities.
In the chart, the price breaks below the lower
Trendline, coming out from the recent consolidating and very thin market
activity. At the same time, the RSI period 14 went into the oversold region. Being
below the level 50, the RSI period 14 is still bearish, and irrespective of any
normal but fleeting rallies that may be expected, the price can break further
downwards towards the demand zones at 9.50 and 8.50 within the next several
days or months.
This forecast is ended by the quote below:
“[Brene’
Brown, PhD] says that we must “get into the arena” be willing to embrace the
uncertainty and the possibility of failure, in order to be able to experience
the exhilaration of success. The
interesting thing about success is that it is very expensive.” – Dr. Woody Johnson
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
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