Hot Features
Premium
Register for streaming realtime charts, analysis tools, and prices.
Since February 2013, Thorntons plc shares (LSE:THT) have been trending upwards. In June, there was a bogus ‘sell’ signal on the market, but the shares quickly recovered and resumed trending further north. Right now, long positions are still more preferable, based on the explanation below.
Technically, the EMA 21 is sloping upwards, while the Williams’ % Range is moving up and down in unison with the prevalent pressure in the market. The price recently dived below the EMA 21 but failed to close below it. In addition, long positions would still be preferable, even if the Williams’ % Range goes into the oversold zone (it would merely enable speculators to go long when the price is one sale, and in the context of an uptrend). Any bearish threats along the way ought not to take the price below the demand levels of 90.3 and 90.1: while the price may eventually rise up retest the supply levels of 100.0 and 100.2
This piece is ended with the quote below:
“Trading does not require you to become a zombie sitting in front of a screen all day… Similarly, trading is a profession where pure talent is rewarded.” – Joe Ross
Ground-breaking lessons from expert traders: http://www.harriman-house.com/experttraders
