Wincanton shares (LSE:WIN) are not favorable to buyers at the present. Although the price rallied in the past, until the end of March 2015, things have now turned bearish. What we even saw in March was largely a sideways movement, for there was a tug of war between the bulls and the bears.
In the chart, the price has closed below the EMA 21 and the Williams’ % Range period 20 is around the oversold region, i.e. around the region below the level 70. Generally, the Williams’ Percentage Range is sloping downwards as the price remains below the EMA 21. This is a sell signal, and unless the price crosses the EMA 21 to the upside, closing above it, the signal is valid.
It is likely that buyers will suffer in this market. The next targets for the bears are the support levels at 150.00 and 140.00.
This forecast is ended by the quote below:
“Traders will be able to make lots of money while those who refuse to prepare themselves with education will have a horrible shock.” – Dr. Van K. Tharp
What Super Traders Don’t Want You To Know: Super Traders
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).
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.