Tuesday, May 31, 2016

Churchill Mining Will Rise Upwardly, Strongly

Churchill stock (LSE:CHL) would rise upwards again, strongly at this time, following the volatile current correction in the market. The market moved sideways in the months of March and April 2016, broke upwards in May and later got corrected while things remain volatile.

In the chart, the price is around the EMA 21 and will likely go above it very soon, staying above it. As for the Williams’ % Range period 20, it is around the overbought area, revealing that the current momentum in the market is in favor of the bulls. The bias is a kind of bullish, and it would be reinforced as the bulls push the price further upwards.

Churchill Mining could reach the supply zones at 30.00, 40.00 and 50.00 within the next several months. The supply zone at 30.00 itself has been tested and it would be retested again.

This forecast is ended by the quote below:

"If you think a company will be around 20 years from now, then it is probably a safe investment." – Warren Buffet

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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