Wednesday, May 24, 2017

There is a bearish signal on Hurricane Energy

Hurricane Energy shares (LSE:HUR) have generated a new bearish signal. The bearish signal could become significant over time, resulting in a serious bearish trend.

The price has been going upwards since July 2017, until recently.  There is a now a movement below the EMA 21, while the Williams’ % Range period 20 is in the oversold territory. There is a bearish signal in the chart, which means price is expected to go further and further downwards very soon.

Hurricane Energy is expected to go more and more southwards within the next several months. The accumulation territories at 50.00, 40.50 and 40.00 are the target for the bear.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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