ZincOx Resources Collapses!

ZincOx shares (LSE:ZOX) collapsed in November 2015 and consolidate in December. The price is still flat but when momentum returns to the market, it would most probably be in favor of the bearish trend.

 

In the chart, the ADX period 14 is at the level 40, showing that there is a strong bias on the market. The DM+ is below the DM-, meaning that the bears have upper hands. Although the MACD (default parameters), has its signal lines below the zero line, its histogram is above the zero line. This shows mixed signals, but the histogram is expected to drop below the zero line again, resulting in a Bearish Confirmation Pattern in the chart.

Any rallies on ZincOx should be taken as short-selling opportunities because the price is expected to collapse further.

One needs courage to endure while trading, because not all position will end up being profitable. An initial order might end up in a negative zone, plus the second one; though the third one might end up in a positive zone. It favors you to go in the line of the least resistance, which may hold out longer than anyone might imagine.

This forecast is ended by the quote below:

“I should enjoy my losses because I have to take them to make money” – Michael White

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

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Alpha Analysis

• 

  Currencies Direct

• 

  Windsor Brokers

• 

  ADVFN News Bulletin