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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