It
is better for buyers to stay away from Kibo Mining stock (LSE:KIBO) now, so as
to avoid regret. The stock has long been in a perpetual downtrend, for most
past of this year. The gap-up that occurred in April 2015 was later filled and
the downtrend was resumed.
In
the chart, 4 EMAs are used, and they are EMAs 10, 20, 50, and 200. The color
that stands for each EMA is shown at the top left part of the chart. The price
is generally below the EMA 10, 20, and 50 – plus there is now a ‘Death Cross’
in the market. Further southward journey is therefore, expected. It is
mandatory that the price move and do so strongly, for this is what is needed to
favor trend following trading ideas. Without price movement, no profit can be
made.
On
Kibo Mining, recalcitrant bulls will almost certainly regret, while consistent bears
would almost thrive. The demand levels at 2.00 and 1.00 might eventually be
attained. However, it is OK to be realistic in our expectations. Newbies want
to win home runs, but veterans know it is better to go for small and consistent
profits.
This forecast is ended by the quote below:
“Wealth
gained by dishonesty will be diminished, but a Trader who gathers by labor will
increase."- 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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