Further Gains Expected on Concha

PUBLISHED: 12 Aug 2015 @ 08:32 | Comments (0) | More info about Azeez Mustapha

Concha shares (LSE:CHA) have the tendency to continue going north – though in a slow and gradual manner. There is no big momentum in the market but the shares are fairly strong.

The ADX period 14 is not above the level 30, confirming the aforementioned low momentum in the market. The ADX DM+ is, however, above the DM-. The bulls still have upper hands in the market. The MACD (default parameters) has its signal lines above the zero line. But its histogram is below the zero line. With an increase in the market momentum, the histogram would soon appear above the zero line. At that time, the ADX would have risen above the level 30, thereby showing a Bullish Confirmation Pattern in the market.

Conservative traders could wait until the Bullish Confirmation Pattern appears before going long on Concha. Dr. Van Tharp says that most people make the mistake of looking for trading techniques right away without first working on themselves. When you do that, you end up making thousands of mistakes.

We want to avoid mistakes by sticking to our trading rules.

This forecast is ended by the quote below:

“As humans we always want to be right; we hate being wrong. You can’t think this way in the world of trading and investing because the truth is, you will have losses. Embrace those losses as a part of your winning strategy and keep them small.” – Sam Seiden

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

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