Tuesday, August 29, 2017

Which direction will Empyrean go next?

Empyrean shares (LSE:EME) have been consolidating to the downside since July. This follows the strong bullish rise that was witnessed in June. Before that, the market was in a tight equilibrium phase.

The price is now almost below the EMA 21, while the Williams’ % Range period 20 is in the oversold region. When price goes clearly under the EMA 21, and the Williams’ % Range remains around the oversold region, there would be a good “sell” signal and price would continue going southwards.

Once the condition in the preceding paragraph is met, Empyrean would be expected to reach the demand levels at 8.00, 6.00 and 4.00 within the next several months.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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