Top Level shares (LSE:TLDH), having broken northward
significantly, would eventually top at the supply level of 15.70 within the
next several months. Experience can never be bought: our experience has made us
understand that when the price breaks out of the kind of protracted equilibrium
zone as seen on the chart, the price is ready to gallivant towards further
resistance lines.
One just needs to know the reality in the markets
before going bullish or bearish. Although optimal trading instruments may not only
be determined by chart analysis, the price broke conspicuously upwards in an
act of defiance at the recent bearish pressure. Last week, the price broke the
EMA 21 to the upside and closed above it; while the Williams’ % Range period 20
moved into the overbought territory, affirming the bulls’ hegemony. This is a
clean bullish signal and it is thus expected that the price would eventually
reach the supply level at 15.70, although there could be some transient bearish
pullbacks along the way.
“I have
strong conviction in my ideas but when the market proves me wrong, I let go of
my ego, cut my loss, and move on.” – Joseph Fahmy
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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