Optibiotix stock (LSE:OPTI) has gone upwards
significantly and it is expected that the substantial gains made by the bulls
would be sustained. In this market, short-term pullbacks should be seen as
another money making opportunities by the bulls. When speculating on a new
bias, what you think is a new bias may simple be a transient retracement amidst
the existing protracted bias.
4 EMAs are used for the analysis, and they are EMAs
10, 20, 50 and 200. The color that stands for each EMA is shown at the top left
side of the chart. The EMAs 10, 20 and 50 have been sloping upwards as price
stays above them. This means that the stock has made serious gains as it breaks
upwards from the long-term base that had been building for several months. Price
is now crossing the EMA 200 to the upside. As it closes above the EMA 200 (a
Golden Cross), it would be the beginning of a new bullish era in the market.
Price may eventually reach the resistance level at 30.00.
Nevertheless, in the art of speculation, your
willingness to stake your money also goes with the possibility of making gains.
Transient retracements may preclude some from taking advantage of the opportunities
offer by those retracements. The majority are therefore looking for retracements
that hold out long enough. When these happen following consolidating phases, it
is either the speculator takes advantage of it or misses the move.
This forecast is ended by the quote below:
“Trading is
not a path to easy money; profits must be earned through homework, discipline,
courage, patience, and perseverance in the markets.” – Rich Trader (by Steve and
Janna Burns)
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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