Thursday, September 24, 2015

Penna Consulting: Strong Gains to Continue

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

1 comment:

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