Wednesday, November 8, 2017

Zanga Iron – BUY

Zanga Iron shares (LSE:ZIOC) are in a bullish mode, having gone upwards seriously this week, to continue the bullish bias that was started late last month.

The ADX period 14 is at the level 50, which shows a very serious momentum in the market. The DM+ is above the DM-, showing that bulls are in control. The MACD, default parameters, has its signal lines and histogram above the zero line.

There is a Bullish Confirmation Pattern on Zanga Iron, and price may go towards the supply levels at 10.00 (which has been previously tested), 13.00 and 15.00. The signal in the market is a BUY.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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