Wednesday, May 11, 2016

TERN Remains a Frustrating Market

Tern stock (LSE:TERN) is not an attractive market at all. In fact, it is a frustrating market as the recent price action shows.

Apart from the bearish movement that happened in January 2016, the price has remained trendless, directionless, choppy and irrational since then. The market simply revolves around the EMA 21. The Williams’ % Range period 20 is a kind of going towards the overbought region.

It is better to stay away from TERN right now, being a frustrating market. However, there is going to be a breakout very soon, which would most probably be to the upside, as suggested by what the Williams’ % Range period 20 is showing.

So we could keep our fingers crossed until there is a predictable directional movement.

This forecast is ended by the quote below:

“Markets can go sideways for a very long time. Lengthening out the time scale is also good for your ego – time has a wonderful way of showing how irrelevant you actually are in the grand scheme of things. This alone should prompt an existential crisis among some who believe that their every move is important to the market.” - Chris Tate

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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