A “buy”
signal has long appeared on Premier oil stock (LSE:PMO). The market rallied
between November 2017 and January 2018, and then came down between January and
April 2018. This month, price has assumed a strong bullish journey.
The market
has gone above the EMA 21, and the Williams’ % Range period 20 is clearly in
the overbought region. There is a strong bullish signal in the market.
PMO is supposed
to continue its bullish journey for the next several months. There would be
some transitory pullbacks in the market, which would be followed by the market
reaching higher highs.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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