Tuesday, April 26, 2016

There Is a Sell Signal on Forbidden Technologies

Forbidden Technologies stock (LSE:FBT) has a sell signal on it, which would aid further bearish movement in the market. The current price action does not support long trades.

The price is under the EMA 21 and the Williams’ % Range period 20 is in the oversold region. A closer look at the price shows that long trades do not currently make a logical sense on Forbidden Technologies.

Further bearish movement may take the price towards the support levels at 8.000, 78.500 and 77.000 within the next several months.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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