Premaitha shares (LSE:NIPT) are expected to plummet further, in conjunction with the ongoing bearish outlook on the market. The market has been consolidating since May 2016 – something that may continue as such or result in a breakout, which could most probably favor bears.
The Williams’ % Range period 20 is in the oversold region while the price is not far above the EMA 21. In fact, the appearance of the EMA 21 (downward slope) shows that bears are in control of the market. When momentum rises, resulting in a breakout, it would most probably favor bears.
Further southward journey could take Premaitha towards the accumulation territories at 8.0, 7.0, and 6.0.
This forecast is ended by the quote below:
“This market has been driven by corporate buybacks and by the Fed putting cash into the market. The individual investor is not in the market at all. He/she is scared … and at a time when some of the best money can be made, but isn’t that typical?” – Dr. Van Tharp
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