Soco international (LSE:SIA) has long been a
wonderful market – an investors’ dream. Therefore, anyone who has gone long in
the market since July 2013 when a long signal is generated in the midst of the continuous
turbulence in the market should be smiling to their bank right now.
Based on the model used here, a long signal has been
generated since July 2013. Since the latter part of September till now, the
outlook on the price is a clean bullish one. The price is far above the EMA 21
while the Williams’ % Range has gone into the overbought region, depicting the
bulls’ strength. Though there could be southward corrections, the price is
expected to reach the resistance line at 450.00.
Conclusion: When a
long signal was generated in this market around July 2013, bulls would look
like fools then. But those who persevered are now enjoying the results of their
effort. Speculators would do well to continue their effort until they attain their
aims. Most real gurus have persevered with determination – irrespective of the
challenges they encounter on the way – and they are now profitable. Going short
in a bull market is suicidal. Do not forget that a suicide
trading technique may sometimes pay off. It happens like that, for a bad
trading style occasionally brings gains. Nonetheless, using a suicide trading
technique would ruin your portfolio eventually. Lay down your trading rules and
follow them. Laying down rules is common, whereas loyalty to them is rare.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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