Arrow Exploration Price: AXL Surges Higher, Bounds to Push More

Going by the powerful price action that has been featured in the marketing lines of Arrow Exploration Corp. (LSE:AXL), the stock is bound to push higher through some overhead resistances in the subsequent business deals.

The primary barrier spot against the current upsurges has been keenly observed to be around 24. When a bullish candlestick forms and there is no indication of a reversal against the zone, bulls will have greater energy to go through potential market retardation lines. However, long-position pushing would also need to be done carefully to prevent an abrupt, uncontrollable downward reversal in the line’s moving mode.

Resistance Levels: 26, 27, 28
Support Levels: 20, 19, 18

What positional postures are the EMAs presently keeping as the AXL Corp. stock trades around 23?
The positional outlook of the moving averages in regards to the current level of AXL Corp. shares around 23 is that they portend a fresh northward-turning style between 22 and 20 points, as the price surges higher and bounds to push more in the near future.

Closely below the 50-day EMA trend line is the 15-day EMA trend line. The stochastic oscillators are traversing the overbought zone in a northward manner, reaching certain regions through varied points. It seems that long-position pushers will probably try to hold onto their positions by trying to get more increases beyond the 23-point mark.

Learn from market wizards: Books to take your trading to the next

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.

• 

  Thierry Laduguie

• 

  Beth Anne Lamar

• 

  Tom Frew

• 

  Dwayne Buzzell