Premier African Minerals shares (LSE:PREM) is a weak stock and it can
remain so for a long time. The market has been forming a series of lower highs
and lower lows for the past several months, proffering sellers with ample
opportunities to go short at better prices.
4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200.
The color that stands for each EMA is shown at the top left part of the chart.
All the EMAs are sloping downwards and, price, though choppy, is below
the EMA 10. This shows a strong “sell” signal.
Further lower highs and lower lows are expected in the market within the
next several months. You may want to take rally attempts on PREM as
short-selling opportunities.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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