Rockfire Resources Plc stock (LSE:ROCK) is in a very strong bullish
trend, having broken out in November 2019, following a frustrating sideways
movement.
ADX period 14 is at the level 40, showing that the momentum in the market
is very strong. DM+ is above DM-, showing that bulls have upper hands when
compared to bears. MACD default parameters has its signal lines and histogram far
above the zero line. This is a Bullish Confirmation Pattern and price is
expected to continue sprinting skywards.
ROCK is close to the distribution territory at 3.00, and it may soon
reach other distribution territories at 4.00 and 5.00 within the next several
months. It may be a steady and slow movement or even a sprint.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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