Fusionex stock (LSE:FXI)
has broken downwards, after several months of tight consolidation, which became
a base. Some think price ought to break upwards from a base. Well, Fusionex
broke downwards, forming a bearish signal.
The market had been
consolidating since last year; plus price has broken downwards recently, going
below the lower Trendline. At the same time, the RSI period 14 has gone below
the level 50. There is a bearish signal in the market.
Is that bearish breakout
a false one? Time would tell. A movement back into the Trendline would override
the current bearish signal and force the market into a neutral territory; while
further southwards movement would emphasize the bearish signal
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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