LGO Energy stock (LSE:LGO) is in a tight equilibrium phase, which
has been going on for the past several months. The price is quite choppy, zigzagging
its way forwards, as long as the equilibrium phase lasts.
In the chart, the price is currently between the Trendlines, and
there would soon be a break out of the Trendlines. The RSI period 14 is sloping
downwards, now at the level 50. It is very much likely that the RSI would go
above the level 50.
Once that happens, it would be logical to conclude that when there
is a breakout from the Trendlines, it would favor the bulls, enabling the price
to go above the distribution territories at 0.8, 0.9, and 1.00 this year.
This forecast is ended by the quote below:
“When you make an
investment in a company, you're making a compromise between what the company is
actually worth and what the market thinks it's worth. That's the price you pay
for each share. Sometimes this works to our advantage, and a stock is priced
below what its fundamentals are worth. That's a bargain.” – James Altucher
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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