Cap-XX
shares (LSE:CPX) have been trending downwards for the past several weeks, and
further movement downwards in the next several days would result in a clean
Bearish Confirmation Pattern in the chart.
The
price went upwards significantly within the last days of April and early May
2015, but since then things have been getting bearish in the short term. The
ADX period 14 is not too far below the level 30, meaning that the market
currently has some momentum in it. The DM+ is below the DM-, which means that
the bears are currently strong. The MACD default parameters still has its
histogram below the zero line, plus the signal lines are also about to cross
the zero line to the downside.
A
close below the demand zone at 2.500 would result in a clean bearish signal and
it would then be dangerous to go long here: unless there is a significant
rally.
This forecast is ended by the quote below:
“Trading requires discipline. A trading plan is of little
value if you abandon it prematurely. The disciplined trader executes a plan and
controls his or her emotions until the plan comes to fruition.” – Joe Ross
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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