ADVFN shares (LSE:AFN) look promising, showing a
great deal of energy. The price consolidated last year and broke upwards
significantly this year. The price topped at the supply level at 130 and then
retraced lower towards the near-term demand level at 117. We know this is a
bull market, but buyers should look for optimal entry price points. What you
know is only useful when it is used rationally.
In addition to the breakout from the upper Trendline
in the chart, the RSI period 14 is also staying above the level 50. There is
clearly stamina in the market and while occasional southward retracements may
be expected, they would simply end up forming lower highs as the price goes for
higher highs.
The ADVFN price may reach the supply levels at 160,
170 and 180 this year; as the price meanders its way further north. We should
not see trading as being a tug of war between the bulls and the bears because
these souls are the secret behind the movement in the market, which enables us
to profit from the market movement. Without movement in the market, there
cannot be profit.
This forecast is ended by the quote below:
“Your trading journal is not meant to be a life diary. It
is meant to assist you to focus on what matters. What matters is that you
re-train your mind to think naturally in terms of opportunities, even in the
face of adversity.” -
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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