Pinnacle
Technology stock (LSE:PINN) is a promising stock that has a very bright future,
and this is just the beginning. Everything you want is on the other side of fear,
according to James Altucher; and this is a market in which the bulls need to
cast away their fears, summon courage and go long.
Following
some significant bullish attempt in February 2015, the price largely consolidated
till July 2015, when it broke upwards significantly. The ADX period 14 is above
the level 70 showing a high level of volatility in the market. The DM+ is far
above the DM-, meaning that the bulls are currently thriving. The MACD (default
parameters) has both its histogram and signal lines above the zero line. This
is a strong Bullish Confirmation Pattern in the chart. The price is yet to
reach its pinnacle indeed!
On Pinnacle
Technology, there would be some occasional pullbacks on the way north, but
speculators need not panic. Panic and fear can paralyze the ability to think
and act wisely. After all, feelings of discouragement or doubt are part of
other areas of life too. Eventually, any bearish corrections or consolidations
that could be experienced in this market will eventually give way to the dominant
bullish bias.
This forecast is ended by the quote below:
“When my
account increases by 50 per cent, I withdraw the excess in order to return it
to the original level. This keeps my trade size fairly consistent, ensures I
always risk a small proportion of my overall trading capital and that I also
get paid from the markets too.” – Simon Clarke
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
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