Legendary Investments stock (LSE:LEG) is about to perform better than
the bullish run we saw in April 2016. The market has been in a trending mode
since February 2016, though last month has been characterized by a bearish
correction.
4 EMAs are used for this analysis and they are EMAs 10, 20, 50, and
200. The color that stands for each EMA is shown at the right hand side of the
chart.
It can be seen that all the EMAs are sloping upwards, though the
price is breaking through the EMAs 10, 20, and 50, going towards the EMA 200.
This is an interesting point because there cannot be a violation of
the current bullish outlook unless there is a “Death Cross,” which means a
condition in which the price crosses the EMA 200 to the downside.
It can be said that what the price is currently doing would end up
enabling investors to enter the market at a better price when a bullish candle
does appear.
In case the price crosses the EMA 200 to the downside, the signal
would turn bearish, but right now, there appears to be a great bullish signal
on Legendary Investments, which could make the price go upwards by more than
1000 points this year.
This forecast is ended by the quote below:
“The market
spent almost all of 2015 in a neutral to down direction — that is — the market
type was mostly sideways and quiet (volatility). So far, that has pretty much
continued in 2016. These market types are about the hardest kinds in which to
make money.”
– Dr. Van Tharp
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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