Fortunately for sellers, Quindell Portfolio shares (LSE:QPP) are moving downwards. And they would continue to move downwards because of the technical reason given below.
On the chart, the major trend has been bearish, so the weak rally that was seen last month was a perfect opportunity for sellers to drag the price lower at a dearer price. The price has now crossed the EMA 21 to the downside and the Williams’ % Range has moved towards the oversold region. Therefore, the bearish signal is strong and the price would possibly be dragged downwards towards the accumulation territory at 6.000
Carlos Slim says that when you live for others' opinions, you are dead. Speculators ought to recognize the time they need to stay away from the market, unless they are bears. You get a signal to sit on the fence when your emotions are going out of control. Experienced traders do not care about any bearish pressure that may suddenly result in the market, whereas they take some losses occasionally.
This article is ended with the quote below:
“The important thing to note is that you can occasionally make money on bad trades, but you can’t make a career taking bad trades.” – Rick Wright
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
For more articles, go to: http://www.advfn.com/newspaper/authors/azeez-mustapha
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