Wednesday, May 25, 2016

Angle PLC’s Bearishness Becomes Clearer

Angle PLC shares (LSE:AGL) are bearish at the present. From November 2015 to February 2015, the price was in a downtrend. In March 2016, the price rallied massively, only to get corrected lower in April. The bearish correction is still in force, and it has held out long enough to cause a bearish signal in the market.

The ADX period 14 is below the level 30, showing that the momentum in the market is not currently strong (though that might happen later). The DM- is still above the DM+, which means the desperate bulls are fighting a losing battle, irrespective of what is happening at the moment.

The MACD default parameters, has both its histogram and signal lines below the zero line. There is a Bearish Confirmation Pattern in the chart. The bearishness on Angle PLC will be more conspicuous as the price goes towards the demand zones at 60.00, 55.00 and 50.00 within the next several months.

This forecast is ended by the quote below:

“I feel really lucky to have built up two decades of connections in hedge funds, banks, and all over the investment world to see the latest research, to see what my friends are investing in, and to learn everything I can to keep my edge in the cutthroat investment space.” – James Altucher

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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