Saturday, May 6, 2017

A bullish breakout is imminent on Oxford Biomedica

A bullish breakout is imminent on Oxford Biomedica shares (LSE:OXB). Price went bullish from January to March, 2017, and went choppy in April. Right now, price is attempting to make some bullish effort.

The market has oscillated between the upper and lower Trendlines, and it would soon close above the upper Trendline, as suggested by the RSI period 14, which is slightly above the level 50. The market would soon resume its recent bullish journey, going further upwards.

A close below the lower Trendline would render this outlook ineffectual, especially when price goes further south.

On the upside, Oxford Biomedica should test the resistance lines at 5.5, 6.5, 7.5 and 8.5, within the next several months.  

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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