Aminex Plc - The Shares Are Strong

PUBLISHED: 05 Mar 2013 @ 20:16 | Comments (1) | More info about Azeez Mustapha

The Aminex shares (LSE:AEX) are now technically strong, based on the reasons given below. The bull has shrugged off any possible selling pressure in the markets, therefore covering itself with its preferred buying pressure; just as the onion has its preferred costumes all over its body.

The shares traded in some tight range from the middle of January to the end of February 2013. After this, the price broke upwards from the upper Trendline, closing above it. This breakout and the subsequent further bullish move were significant. The RSI period 14 went seriously above the level 70 before retracing downwards a little. This is a ‘buy’ signal in the market (for the price is expected to continue with this bias).

Effective speculators possess great positive expectancy strategies. The positive expectancy does not mean there would never be a losing trade. Would you quit a potentially profitable business in the year or the month you make more loss than profit? Probably you will not do this, as a result of your knowledge, which tells you that things also do turn in your favor eventually, especially in the long run as long as you stick to your winning business principles.

This article is ended with the quote below:

“Trading is psychological warfare… Trading requires self-limits and personal accountability.” Dr. Woody Johnson

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