Burberry Group shares (LSE:BRBY) are a good example of an
ideal market for buyers. There is a clean bullish signal in the market and
buyers are happy to ride it further north.
Price is above the EMA 21 and the Williams % Range period 20
has often remained in the overbought territory. This is a classic example of a
strong market: While price could temporarily retrace bearishly a bit along the
way, the strength is expected to continue in the next several weeks or months.
On Burberry Group, the initial target for buyers is located
at the supply zone at 1600 (though price might go far beyond that supply zone).
This forecast is ended by the quote below:
“In many ways people believe that they have a long term
relationship with a stock that should continue on a linear trajectory. Very few
things in life are linear other than the relentless advance of human stupidity
fueled by social media.” –
Chris Tate
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Super Trading Strategies: Super Traders
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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