Bahamas
Petrol shares (LSE:BPC) has been going upwards since it broke upwards
significantly in early May, 2018. Before then, price was in a tight
consolidation, forming a strong base.
In the
context of a bullish movement, price ranged in June, only to begin to go
further northwards seriously in July.
4 EMAs are
used for this analysis, and they are EMAs 10, 20, 50 and 200. The color that
stands for each EMA is shown at the top left part of the chart. All the EMAs
are sloping upwards, supporting the ongoing bullish momentum in the market.
Price is
above the EMAs 10 and 20, and may temporarily test the EMAs and then go further
upwards. However, Bahamas Petroleum is generally supposed to continue going
upwards until, the end of this year.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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