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
What Super Traders
Don’t Want You To Know: Super Traders
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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