Rockfire Resources to continue shooting upwards

Rockfire Resources Plc stock (LSE:ROCK) is in a very strong bullish trend, having broken out in November 2019, following a frustrating sideways movement.

ADX period 14 is at the level 40, showing that the momentum in the market is very strong. DM+ is above DM-, showing that bulls have upper hands when compared to bears. MACD default parameters has its signal lines and histogram far above the zero line. This is a Bullish Confirmation Pattern and price is expected to continue sprinting skywards.

ROCK is close to the distribution territory at 3.00, and it may soon reach other distribution territories at 4.00 and 5.00 within the next several months. It may be a steady and slow movement or even a sprint.

 

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