London Stock Exchange
Advanced charts
Premium community
Data download

A Violent Breakout Expected on Blinkx

PUBLISHED: 09 Apr 2015 @ 11:45 | Comments (0) | More info about Azeez Mustapha

Blinkx stock (LSE:BLNX) is currently a choppy market in which buyers and sellers go through rough times. Looking at the market closely, there is a kind of subtle consolidation. There is no serious confirmation pattern here, but when a breakout does occur, it would probably favor the bears.

In the chart, the ADX period 14 is used. Both the ADX line, +DM and –DM are closely in intertwined, all around the level 20. This shows that the market does not have any momentum, and there is no significant movement. A serious breakout will soon occur. The MACD default parameters has both its signal lines and histogram below the zero line. The means that if there is a group that is winning the battle right now, it is the bears, for the price is consolidating to the downside. There would soon be a breakout in the market, though this does not rule out a possibility of a breakout to the upside as well.

A break above the resistance line at 34.00 would result on a confirmed bullish outlook, while a break below the support line at 28.00 would result in a confirmed bearish outlook.

This forecast is ended by the quote below:

“Take the time to work on getting to know yourself intimately. After all said and done you are your greatest trading asset from which everything flows, so take the time to learn about yourself, and do so without judging yourself.” – Mercedes Oestermann van Essen

What Super Traders Don’t Want You To Know: Super Traders

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.