Monday, December 22, 2014

Tern Is Now a Fertile Market for Buyers

Tern stock (LSE:TERN) is ripe for a northward movement and buyers would be wise to capitalize on that. Price broke upwards from the recent base (an equilibrium zone in the market), as it trends northward significantly.

The price broke out of the upper Trendline. Before that, the bulls were making effort to push the price upwards, while still between the upper and the lower Trendline. It is clear that this kind of effort should not be ignored: the cat lies down as though lazy, but its wisdom is great.

The RSI period 14 is also above the level 80, showing a strong uptrend. This also shows that there may be occasional pullbacks in the price, after which the price may go further upwards. The stock may eventually reach the resistance level at 10.00. This movement may be attributed to fundamental events, but technical analysis is used to find a good entry point.  As one expert puts it, technical analysis measures system output, while fundamental analysis merely looks at the input.

This forecast is ended by the quote below:

“You do not need to have an opinion about where the S&P is going in order to trade it successfully, but you need the mental clarity to act on your trading signals with confidence. You need to know your trading set ups and master your set ups and this means mastering yourself, your trading psychology.” - Mercedes Oestermann van Essen

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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