Wednesday, December 17, 2014

Stay Away from Nanoco

Nanoco shares (LSE:NANO) are currently not attractive. This is a market in which bulls and bears may suffer if they try to open swing trading or position trading positions. This is a kind of the market in which the price always makes it difficult for most speculators to make money, because of its deceptive movement.

In the chart, the ADX period 14 is below the level 20, meaning that there is no momentum in the market. The DM+ and the DM- are intertwined, with no indication of any upper hands of either the bull or the bear. The MACD (default parameters) has its signal line and histogram above the zero line, but this is nothing significant. Should the price go further upwards above the supply level at 140, it would mean the establishment of a Bullish Confirmation Pattern. A break below the demand level at 100 would lead to a Bearish Confirmation Pattern.

Long-term traders may stay out of this market until there is a clear directional movement. Right now, short-term positions may be opened to take advantage of short-term fluctuations, thereby allowing profitmaking when long-term investors suffer.

This forecast is ended by the quote below:

“As a trader, I don’t care what others think because I don’t have to justify myself to anyone. This is another bit of freedom that this [trading] profession gives you.” – J. C. Parets

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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