Penna Consulting shares (LSE:PNA) are making strong gains.
There is serious buying pressure in the market, which is supposed to continue
fueling the bullish momentum that is being seen right now. A brand-new movement
like this proffers a clean way to make money with lower risk, with a higher hit
rate.
The price has been moving upwards gradually since March
2015; but it really gapped up in July, making higher lows and higher highs till
now. At the present, the price is above the EMA 21 and the Williams’ % Range
period 20 is in the overbought region. This shows that the buying pressure is
on, and while there could be occasional pauses in the momentum (just like what
is seen in last two weeks), the bullish journey would continue till the end of
the year.
There is no way to determine whether a market is oversold or
overbought. But we can know what to do whatever happens, which is adding to our
winners when things continue moving in our favor and scaling out gradually when
things turn negative.
Nevertheless, Penna Consulting shares would continue holding
out on their bullishness, enabling the price to reach the supply levels at
300.00 and 350.00.
This forecast is ended by the quote below:
“Everything
has got to be simple, no matter what. The more complicated the tools, the worse
the trades usually are.” – Dennis Gartman
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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