You won’t believe what this stock is doing now!

Iconic LabsPlc stock (LSE:ICON) has been moving in an unbelievable manner. The market is brutally flat and breakouts have been totally false.

 

This unusual movement has been going on for the most part of this year, For instance, April 2020 till now has been trendless and ranging.

 

The EMA 21 has also been flat. Additionally, the Williams’ % Range has mostly sauntered into the oversold territory, and has supported downtrend more than uptrend. This market is not attractive at all, and the situation on it is very strange.

 

Bullish breakouts are false and the base movement is even tilting to the downside. Remember what happened to CHF when most people though it could go no further downwards, and they lost more than their shirts. While many investors are expecting a breakout to the upside, the market could even go seriously southwards.

 

So what is the best stance to take towards ICON? Stay away from that market. Period.

 

 

Azeez Mustapha

 

Market Analyst, Trading Signals Provider and Coach

 

Trading realities: Trading realities 

  

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

 

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