Tern Plc shares (LSE:TERN) have experienced a serious bullish breakout, and this is just the beginning of a long-term bullish movement. Price was trending downwards from June 2020, almost to the end of October 2020.
However, there has been a significant bullish breakout at the end of
October – something that is expected to continue for a considerable amount of
time. The ADX period 14 is around the level 20, and the DMI+ is far above the
DM-. It shows that while a rise in momentum is expected, the market is already
taken over by bulls.
MACD default parameters, has its signal lines crossing the zero line to
the upside, and histogram is already above the zero line.
This is the beginning of what is expected to be a long-term bullish journey.
The next resistance levels to be reached
by TERN are 14.00, 15.00 and 16.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: Teach Yourself
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