Proteome Sciences shares (LSE:PRM) have become determinedly
bullish again. The bulls may regain the territory that has been lost and the
price may breach further resistance levels as it goes northwards.
Although the current bias is not very strong - as
shown by the ADX period 20 line which is below the level 20 – it is logically bullish.
The ADX DM+ is above the DM-, meaning that it pays to side with the bulls. At
the same time, the MACD (default parameters) has its histogram above the zero
line. The signal lines are also almost going above the zero line. Should the
price go further upwards, the MACD would join the ADX to form a Bullish Confirmation
Pattern in the market. That means the northward journey can continue, and the
price may reach the resistance level at 60.00.
We want to trade only what we see, not what we think
the markets will do. Successful trading
is about managing your trades very well; not only about picking the right
stocks.
This forecast is ended by the quote below:
“It's
important for your psychological and financial security that you limit the risk
on any single trade. Again, think in terms of the big picture. You don't need
to make money on a single trade; the overall results across a series of trades
are all that really matter.” – Joe Ross
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
No comments:
Post a Comment