Active buyers will push Next stock upwards till the end of October 2014

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Get prepared for a nice bullish ride on Next stock (LSE:NXT), which may hold out for a few months, bringing satisfactory profits for the buyers. This market has long since been a bull market, punctuated by transitory bearish corrections.

The price has already broken above the upper Trendline, closing above it and trending further upwards. The Trendline itself is a strong hurdle to any strong bearish correction along the way (which will eventually prove abortive, anyway). The RSI period 14 is slightly above the level 50. Yes, the market is poised for a bullish ride and the price may break more and more resistance levels in the coming months, breaking them to the upside.

We cannot make money from historical data and we cannot make money from the data that is yet to come. What we can do is to attempt to make money from what the price is doing right now, provided it meets our entry criteria. When a trading condition is met, it does not mean that we must trade anyway. It only means we want to take the trade provided it is sensible enough.

This forecast is ended with the quote below:

“By definition, a trade with a loss to the amount of the planned risk where all the rules have been correctly applied is a flawless trade.” – Dirk Stiller

Learn from the Generals of the Markets: Market Generals

 

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