Buyers Should Stay Away from Kibo Mining, to Avoid Regret

PUBLISHED: 07 Jul 2015 @ 06:10 | Comments (0) | More info about Azeez Mustapha

It is better for buyers to stay away from Kibo Mining stock (LSE:KIBO) now, so as to avoid regret. The stock has long been in a perpetual downtrend, for most past of this year. The gap-up that occurred in April 2015 was later filled and the downtrend was resumed.

In the chart, 4 EMAs are used, and they are EMAs 10, 20, 50, and 200. The color that stands for each EMA is shown at the top left part of the chart. The price is generally below the EMA 10, 20, and 50 – plus there is now a ‘Death Cross’ in the market. Further southward journey is therefore, expected. It is mandatory that the price move and do so strongly, for this is what is needed to favor trend following trading ideas. Without price movement, no profit can be made.

On Kibo Mining, recalcitrant bulls will almost certainly regret, while consistent bears would almost thrive. The demand levels at 2.00 and 1.00 might eventually be attained. However, it is OK to be realistic in our expectations. Newbies want to win home runs, but veterans know it is better to go for small and consistent profits.

This forecast is ended by the quote below:

“Wealth gained by dishonesty will be diminished, but a Trader who gathers by labor will increase.”- Joe Ross

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