A Northward Breakout Expected on TomCo Energy

PUBLISHED: 06 May 2015 @ 01:20 | Comments (0) | More info about Azeez Mustapha

TomCo Energy shares (LSE:TOM) are expected to experience a breakout to the upside, which may happen this week or next. The volatile market has been making shallow but protracted bearish attempt, but there would soon be a breakout to the upside.

The ADX period 14 is not above the level 30, meaning that the momentum in the market is low. The DM+ is below the DM-, for this is a bear market. As for the MACD default parameters, the signal lines and the histogram are blended with the zero line. This is an equilibrium market in which there would soon be a breakout in favor of the bulls. It would eventually result in a Bullish Confirmation Pattern. As long as a dominant bias exists, it should be harnessed in our favor, for trading live money is different than trading virtual money.

Therefore, TomCo Energy may try the accumulation territory at 0.100, while the long-term targets are situated at the distribution territories at 1.000 and 2.000. Good signals are designed to be used defensively so that portfolios are kept safe in the face of the vagaries of the market.

This forecast is ended by the quote below:

“If you decide that you don’t care about losing your job, then a job loss wouldn’t matter to you. If you decide that a trading loss is just part of business as usual, then you won’t let the loss have a great impact on your emotions.” – Joe Ross

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