New
World Oil stock (LSE:NEW) has shown that a new trading opportunity would
inevitably be generated soon, based on the current price action. This is an
attractive market indeed.
For
several months, the stock has been trending downwards, while also consolidating
to the downside. The price is now under the EMA 21 and the Williams’ % Range
period 20 is in the oversold region. In reality, this is a bear market which
may go further downwards by up to 80 points, enabling the price to reach the great
support level at 0.005. But…
There
is a high probability that the price would break out soon; moving upwards
gradually or significantly. A great opportunity has emerged for the bulls
indeed. The coming bullish phase could hold out longer than expected, for the
market can go upwards by thousands of points. When the market is strong,
bearish signals would be bogus in most cases.
Please
let us not forget that we need to manage our risk as we trade this stock. As
one expert notes, in trading, entrepreneurship, and competitive sports are not
easy. They require moving forward in the face of many small losses and
rejections.
This forecast is ended by the quote below:
“Thus far
our success has been based on a humble approach where we admit that we don’t
know everything there is to know and we must always have an open mind to learn
more and more. Success in investing comes from continuously learning and
keeping an open mind.” – Mark Mobius
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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