Afren stock (LSE:AFR) has now become hopeless against
the bears. The price gapped down massively recently, rendering any bullish hope
and outlook useless.
The market was in a tight consolidation – a cutthroat
struggle between the bulls and the bears – for a few months. But at the end of
July/beginning of August, 2014, the market gapped downwards significantly. This
is a serious breakout in the direction of sellers. The price is currently below
the EMA 21 and the Williams’ % Range period 20 is now in the oversold
territory. Once again, the market is weak and it is supposed to go further
south.
Conclusion: Afren
stock is supposed to continue going lower and lower, reaching the support
levels at 96.0 and 95.0; although there could be transitory rallies during the journey.
No long trades would be sought in this market until there is a Bullish
Confirmation Pattern in the market. If you are misled by a spurious signal to
go long, it would be OK as long as the sustained negativity would be far less
when compared to the positivity that has been sustained in this bear market. Although
trading is a skill that could be learned by all, not everyone would be disciplined
enough to do what it takes to be victorious.
This forecast is ended by the quote below:
“After all,
aren’t traders and investors all predators to some extent? Eat or be eaten.” – Michael Covel
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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