Friday, December 16, 2016

Cloudtag Undergoes a Roller Coaster Ride

Cloudtag shares (LSE:CTAG) has really undergone a roller coaster ride in recent months. Price consolidated in July and August, rose sharply in September, plummeted in October and November and it is now rising wildly this month. The market is quite choppy.

The ADX period 14 is not above the level 50, meaning that the momentum in the market is not great right now. The DM+ and the DM- are simply intertwined, which means there is no directional signal right. The MACD, default parameters, has its histogram above the zero line, while the signal lines are just crossing the zero line to the upside.

This means there is no clear signal on Cloudtag and it is Ok to stay away from the market right now…. Until the MACD and the ADX would give a signal that would result in a Bullish Confirmation Pattern or a Bearish Confirmation Pattern.

This forecast is ended by the quote below:

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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1 comment:

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