Tuesday, July 19, 2016

Another Northward Breakout Is Coming on Dji Holdings

Dji Holdings shares (LSE:DJI) show a promise of another bullish breakout, following the recent consolidation in the market. The market was in form of a strong base from January to March 2016, prior to the strong bullish breakout which lasted from March till May. Since June till now, the market has only consolidated; not going upwards nor going downwards in a strong mode.

A break below the lower Trendline would result in a “sell” signal, but the probability of price breaking above the upper Trendline is higher. This is also supported by the RSI period 14, which is above the level 50.

Dji Holdings could perform another bullish breakout, which would take its price towards the distribution territories at 140.0, 150.0 and 160.0 within the next several months. The distribution territory at 140.0 was recently tested and it would be tested again – it would even be breached to the upside as mentioned earlier.

This forecast is ended by the quote below:

“We couldn’t agree more, especially in the business of stock trading; the more you learn, the more you earn.” – Deron Wagner

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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1 comment:

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