Tern
shares (LSE:TERN) are consolidating to the upside and this may eventually
result in an upward break which may enable the price to accelerate further
upwards.
In
the chart, the ADX period 14 is around the level 20, confirming the
consolidation phase. However, the DM+ is above the DM-, proving that the bulls
have upper hands in the ongoing consolidation. The MACD default parameters, has
both its histogram and signal lines above the zero line. The bulls have upper
hands indeed. What we have in the chart is a kind of a confirmation of a
bullish signal (sort of): so it is logical to conclude that when a breakout
does occur here, it would be in favor of the bulls.
It
cannot be said when the breakout would actually occur on Tern, but when it
happens, the resistance levels at 15.00 and 20.00 would be reached this year
This forecast is ended by the quote below:
“If the risk of a worst case scenario is minimal – as it
should be – it alleviates the stress of the situation and makes it much easier
to make sound decisions.” – Darrin Donnelly
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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