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Tuesday, June 28, 2016

Taylor Wimpey Is Another Falling Knife

 Taylor Wimpey stock (LSE:TW.) is a falling knife, having dropped like a stone last week. The market has been volatile since then…. And recovery is possible.


Yes, the market is really a falling knife. Price is below the EMA 21, and the Williams’ % Range period 20 is in the oversold territory. Prior to the time, the market had been largely consolidating, for the most part of this year.

Taylor Wimpey has run against adamant accumulation territories, and a rally is bound to happen. It is possible that price would trend further downwards: but a rally would come around soon.

A buy signal would be formed once the Williams’ Range period 20 is in the overbought territory and the price has gone above the EMA 21 again. That would happen this year, though it might take some time, which is good news for those who know how to catch falling knives.  

This forecast is ended by the quote below:

“There's an advantage to using a more methodical approach: continue to search for solid, high probability trade setups, outline detailed trading plans, and trade prudently with unwavering discipline.” – Joe Ross

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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