Tuesday, July 5, 2016

Optibiotix H. Is Choppy As Well As Attractive

OptiBiotix Health shares (LSE:OPTI) constitute a choppy, but attractive market. Based on the price action in the daily chart, there are wild upswings and downswings in the market, which reveal something interesting.

A closer look at the market shows that, price, which is now within the upper and lower Trendlines, has exuded willingness to trend further upwards. Several hanging men has shown in the past few weeks and the current candle is also a hanging man. A buying pressure could arise in the market, which would push the price above the upper Trendline.

The RSI period 14, which is at the level 50, might soon go above that level and signal a bullish signal. As Optibiotix H. is caught in a choppy, wild phase now, there is a possibility that the stock would trend higher and higher, forming a directional movement, and becoming attractive.

This forecast is ended by the quote below:

“You know that old adage of never buying a car that was built on a Saturday afternoon, well the same thing used to apply to brokers giving advice on a Friday afternoon.”  – Chris Tate

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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1 comment:

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