Tuesday, November 22, 2016

Westminster Starts Moving South

Westminster stock (LSE:WSG) has started moving south, following some heavy selling pressure that began this month. Further southwards movement is possible.

4 EMAs are used for this 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. The EMAs 10, 20, and 50, have started sloping downwards as price itself has crossed the EMA 200 to the downside (a Death Cross). This signifies that the recent bullish bias is over.

Westminster is expected to continue to trend further downwards, reaching the distribution territories at 15.00, 14.00 and 13.00 within the next few or several months.

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