Tuesday, December 26, 2017

Legendary Investments makes a sustainable bullish breakout

Legendary Investments stock (LSE:LEG) seems to have come out of rough waters (choppy, unpredictable market conditions), as it assumes a bullish bias.

The ADX period 14 is rising above the level 20, meaning that the momentum may be rising. The DM+ is above the DM-, showing the bullish strength. The MACD default parameters, has its histogram above the zero line (plus the signal lines are going upwards too, soon to cross the zero line to the upside).

When these conditions are all met, the bias on the market would turn bullish, leading to a Bullish Confirmation Pattern in the market.

Legendary Investments is expected to sustain the current bullish breakout in the recently choppy market, and that would later bring about a clean bullish signal.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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