Tuesday, October 28, 2014

President Energy Stock Remains Volatile as Bulls Fight for Control

President energy stock (LSE:PPC) was a volatile market which was trending downwards about a few months ago. But recently, things have gone bullish, plus the pullback that is currently happening in the market is a good opportunity to go long. When people are concerned about what is happening now, they would like to see recent data instead of very old data.

The price has already gone above the EMA 21 and the Williams’ % Range period 20 is moving into the overbought territory. By the time the Williams’ % Range is in the overbought territory, bearish influence would have been shaken off as subsequent pullbacks proffer new long chances.

There is a good chance than the price may eventually reach the resistance levels at 40 and 45 in a foreseeable future, but that statement does not come with guarantees. There is no way we can always be correct with our predictions, and as a result of this, we need to put up with the negativity that comes our way now and then.

This forecast is ended by the quote below:

“Complicated systems breed confusion; simplicity breeds elegance.” – Justice Jack Sparrow Litle

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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