Premier African Minerals stock (LSE:PREM) has recently undergone what could be called a roller-coaster movement. From January to February 2020, price moved sideways. From February to March, it moved downwards. From March to April, it moved sideways again. It went upward in May and has started coming down this June.
The market is currently below
the EMA 21 and could eventually close below it. The Williams’ % Range period 20
is already in the oversold region. This should be taken as a bearish signal
rather than a bullish signal.
Once price closes below the EMA
21, there would be a confirmed bearish signal in the market, which could take
PREM towards the support zones at 0.08, 0.07 and 0.06. The outlook for this
market is clearly bearish.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha
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