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
Traders’ Mindset: Traders' Mindset
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