Columbus Energy – a clean bullish market

Columbus Energy shares (LSE:CERP) have become a clean bullish market, following the bullish run which started last month. The bullish run is expected to continue for the reason below.

The market consolidated in June, July and August; 2017 only to break out in September. That is the trend that remains in place till now.

The ADX period 14 is at the level 60, showing a strong momentum in the market. The DM+ is far above the DM-, meaning that bulls are currently the winners. The MACD default parameters has its signal lines and histogram above the zero line. This is a Bullish Confirmation Pattern in the market, and further upwards movement is cleanly possible.

Columbus Energy may thus reach the resistance levels at 8.500, 9.000 and 9.500 within the next several weeks.

 

Traders’ Mindset: http: Traders Mindset

 

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.

• 

  Anthony Wintle

• 

  Charles Russell-Pavier

• 

  Tom Clark

• 

  Angelina Jennifer