Cloudbuy Is Now in a Major Downtrend

Cloudbou shares (LSE:CBUY) are now in a major downtrend, which is expected to continue. Price went downwards in January/February 2016, and went upwards in March/April. Nonetheless, price has been coming down since May till now.

The ADX period 14 is at the level 60, showing a strong bearish momentum in the market. The DM- is clearly above the DM+, meaning that the bears are reigning right now. The MACD default parameters, has its histogram and signal lines below the zero line. There is a Bearish Confirmation Pattern in the daily chart, and further downward movement is possible.

Cloudbuy may reach the support lines 4.000, 3.500 and 3.000 within the next few months.

This forecast is ended by the quote below:

“Trading is about managing being uncomfortable. This discomfort can come at any time in the trading process and the trader has to work out where in the trading process they are most able to manage their discomfort. What is interesting is that traders actually seek to manage their comfort which inevitably means they do nothing yet paradoxically they encounter discomfort when they realise they have missed out. Irrespective of your approach trading involves discomfort at some point in the trading process.” – Chris Tate (Source: Tradinggame.com.au)

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: Super Traders

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha

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