Wednesday, October 26, 2016

A Sure-fire Signal Appears on Sovereign Mne

A sure-fire bullish signal has appeared on Sovereign Mne stock (LSE:SMA). Price is currently in a bullish mode, which happened following a strong bullish breakout that happened in September 2016. Before this, price was in a consolidation mode for several months.

4 EMAs are used for the analysis, and they are EMAs 10, 20, 50, and 200. The color that stands for each EMA is shown at the top left part of the chart. All the EMAs are sloping upwards, and price is above them all. Any bearish retracements into the EMAs 10 or 20 would serve as another bullish signal, buying lower in a persistent bullish trend.

On Sovereign Mne, bulls would target the supply zones at 0.900, 1.000 and eventually, 1.100.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Super Trading Strategies: Super Strategies

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