Wednesday, September 10, 2014

Atlas Mara Price Breaks Downwards

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

Learn from the Generals of the Markets: Market Generals

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