Proteome Sciences Stock Becomes Bullish Amid Volatility

PUBLISHED: 02 Sep 2014 @ 18:19 | Comments (0) | More info about Azeez Mustapha

Proteome Sciences shares (LSE:PRM) have become determinedly bullish again. The bulls may regain the territory that has been lost and the price may breach further resistance levels as it goes northwards.

Although the current bias is not very strong – as shown by the ADX period 20 line which is below the level 20 – it is logically bullish. The ADX DM+ is above the DM-, meaning that it pays to side with the bulls. At the same time, the MACD (default parameters) has its histogram above the zero line. The signal lines are also almost going above the zero line. Should the price go further upwards, the MACD would join the ADX to form a Bullish Confirmation Pattern in the market. That means the northward journey can continue, and the price may reach the resistance level at 60.00.

We want to trade only what we see, not what we think the markets will do. Successful trading is about managing your trades very well; not only about picking the right stocks.

This forecast is ended by the quote below:

“It’s important for your psychological and financial security that you limit the risk on any single trade. Again, think in terms of the big picture. You don’t need to make money on a single trade; the overall results across a series of trades are all that really matter.” – Joe Ross

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