Tuesday, March 29, 2016

Annual Trading Forecast on ADVFN (2016)

ADVFN shares (LSE:AFN) have been trending downwards for the past several months. There is a clear downtrend in the chart – a major bias.

The price is below the EMA 21 while the Williams’ % Range period 20 is perpetually in the oversold region. Long trades are not currently recommended on ADFN because the major bias is bearish. This is a kind of market in which the bears thrive.

The downtrend is expected to continue this year. However this, does not rule out possibility of a serious bullish turnaround in a foreseeable future, which would generate a bullish signal once the price goes above the EMA 21 and the Williams’ % Range period 20 saunters into the overbought region.  

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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