Tricor shares (LSE:TRIC) bring losses to the bulls as they dived for most part of the year 2014. Even the tight range that followed still showcases the supremacy of the bears.
Anyone who had gone long, or who goes long in this market, will suffer. The ADX period 14 is above the level 60, showing the extant stamina of the dominant bearish bias. The DM+ is clearly above the DM-; another confirmation of the suffering of the bulls. The MACD (default parameters) still has its signal lines below the zero line. Although the histogram is above the zero line, it would be illogical to rely on that.
The price has the possibility of going further downwards, reaching the support levels at 1.00, 0.55 and 0.25 respectively. The only scenario that would bring the possibility of the price going upwards is the condition in which the MACD signal lines and histogram go above the zero line and the ADX DM+ goes above its DM- counterpart.
This forecast is ended with the quote below:
“So the markets are an excellent place to make money, but unfortunately the makings aren’t that easy.” – Ron Shear
Learn from the Generals of the Markets: Market Generals
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