Telit Communications stock (LSE:TCM)
has dropped like a stone, moving seriously lower, following a gap-down that was
seen early this week.
4 EMAs are used for the strategy and
they are EMAs 10, 20, 50 and 200. The colour that stands for each EMA is shown
at the top left part of the chart.
All the EMAs are sloping downwards,
with price far below the EMA 10. It should also be noted that the market has
already gone below the EMA 200 (a Death Cross). This is a bearish market.
Telit Communications would continue
to journey downwards, while occasional upward bounces would be ignored.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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