CPP Group: Long Positions Would Be Favorable

Share On Facebook
share on Linkedin
Print

CPP Group shares (LSE:CPP) are now favorable to buyer. The price has broken upwards after a protracted sideways movement which lasted several months following a bearish bias.

It can be seen that the price eventually broke out of a protracted sideways bias – to the upside. Since then, the price has closed above the upper Trendline, trading further north. The present massive pullback in the price is merely an opportunity to enter long again. It should not be forgotten that the RSI period 14 is above the level 50, which still confirms the bull’s hegemony. The price could ultimately reach the supply level of 50. The prospective bear can hurt herself/himself here. Could the cobra bite an iron rod without hurting itself?

Conclusion: Long positions on CPP Group would be favorable. Is this a blind assumption? No. Instead, it is a chart analysis that reveals what only trained eyes can see and the reasons for market actions. When you see the market moving seriously north as a result of some positive fundamentals, long positions would be favorable on it. On the other hand, should the market movement be determined by herd mentality or institutional panic speculation, mean reversion techniques could be favorable.

Ground-breaking lessons from expert traders: http://www.harriman-house.com/experttraders

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.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20221205 01:12:06