Wednesday, May 24, 2017

Stay away from Xtract Resources!

Xtract resources stock (LSE:XTR) is a no-go area for those who invest logically. The price has just been going sideways for the past several month, and that has formed an extremely tight base.

Although the ADX period 14 is above the level 80 (strong momentum), while the DM+ is above the DM- (bullish signal), the MACD, default parameters, is flat. The signal lines and histogram, are almost as flat as the zero line. That means the market should be disregarded until there is a rise in the momentum.

On Xtract resources, price is flat, and the base is strong. However, there would soon be a rise in the momentum, which, according to the ADX, might favor the bull.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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1 comment:

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