Tuesday, June 21, 2016

Kibo Mining Remains Choppy, but Promising

Kibo Mining stock (LSE:KIBO) has been engaged in a choppy phase for several months, though a closer look at the market reveals some form of bullish domination.

The price is essentially above the EMA period 50, while the current shallow bearish correction in the market proffers an opportunity to go long when things are on sale, and in the context of a downtrend.

As long as Kibo Mining stock does not go below the demand zone at 4.00, this bullish outlook would be rational. The price could reach the supply zones at 7.00, 7.50 and 8.000 this year. This means the market is attractive, though choppy.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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