Touchstone is a bears’ paradise: Price to reach 0.200 and below
By
Azeez Mustapha
PUBLISHED:
09 Apr 2014 @ 07:50
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Comments (2)
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More info about Azeez Mustapha
Touchstone stock (LSE:TGL) has long become a bears’ paradise. There has been a steep decline in the price; which was punctuated by short-term rallies and further dips. This kind of bias has really benefitted the bears, since they have learned how to make fortunes from this kind of market. A tormentor makes his victims hardy.
The price is under the EMA 21 and the Williams’ % Range period 20 is has long been around the oversold area. This shows that the market is weak and the bias is expected to continue. The plan here is to use a method that works in a bear market. You stick to your plan, for that attitude pays off.
Conclusion: Touchstone stock would only go more southward. It could eventually test the accumulation territories at 0.100 and 0.050, before it ever turns upwards. When you pick your signals according to the dominant bias, you do yourself a favor in the long run.
This forecast is ended with the quote below:
“Many traders are gambling without even knowing it – trading in a way or for a reason that is completely dichotomous with success in the markets.” – Cory Mitchell
Eye-opening trading lessons: Lessons from Expert Traders
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