Tuesday, July 19, 2016

Is There a Bearish Signal on Pantheon Resources?

The current situation on Pantheon Resources stock (LSE:PANR) is dicey, because price is bearish in the short term and bullish in the long term. Where would price go next?

4 EMAs are used in the chart and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown in the top left part of the chart. Price is below the EMAs 10, 20 and 50, but above the EMA 200.

The stock would either go above the EMAs 50 and 20 (or possibly 10) to emphasize the recent bullish signal: Or the stock would cross the EMA 200 to the downside to signal a clean bearish signal. Until that happens, Pantheon Resources would be surrounded in uncertainties.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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