Thursday, September 24, 2015

W Resources – a Super Performing Stock

W Resources stock (LSE:WRES) has been performing wonderfully, bringing smiles to buyers’ faces. Before the current strong bullish movement, the stock was in a base for several months. The stock broke strongly upwards in August 2015, sprinting northwards until now.

The ADX period 14 is above the level 60, denoting a very strong momentum in the market. The DM+ is far above the DM-, emphasizing the bulls’ victory. The MACD (default parameters) has both its signal lines and histogram vividly above the zero line. This is a strong Bullish Confirmation Pattern in the chart, which means that the stock is expected to continue moving upwards.

When in a position, we want the price to continue developing in the direction of the major bias. We all like quick, speedy gains. The quicker the momentum, the faster the gains. When the momentum continues to increase faster and faster, we would like to see how it might last. 

W Resources stock could still move further north by 3000 points before the end of the year 2015.

This forecast is ended by the quote below:

“Predictions are difficult, especially about the future.” – Yogi

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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