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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