Globo shares (LSE:GBO) are expected to go further south,
owing to the current weakness in the market. The price has been going south
since June 2015. Towards the end of September, the price made some bullish
effort while the outlook remained bearish.
At the beginning of this month, the price consolidated and
then broke down. The ADX period 14 is at the level 30, showing a considerable strength
in the market, The DM- is above the DM+, meaning that the bears are now
dominating. The MACD, default parameters, has it histogram below the zero line.
The MACD signal lines are also almost crossing the zero line to the downside.
With time, the MACD signal lines would be completely below
the zero line, given the current weakness of the shares. Globo price is thus supposed
to go further south until the demand level at 20.00 is tested. The price can go further south than this –
bringing huge profits to sellers. Buyers who refuse to cut their losses are in
for big pains.
This forecast is ended by the quote below:
“..Perhaps the greatest lesson of all, should you happen
to leap before you look, never, ever trade on hope or stay in a trade based on
hope. If you are wrong, GET OUT! If you don't have the discipline to do that,
you shouldn't be trading.” – 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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