Massive Sell-offs to Begin on San Leon Energy

PUBLISHED: 14 Jul 2015 @ 08:21 | Comments (0) | More info about Azeez Mustapha

There is a high possibility that massive sell-offs soon may begin on San Leon Energy shares (LSE:SLE), as indicated by the price action in the chart below. Chris Tate says there is a time to be in the market and there is time not to be in the market. Definitely for the bulls, this is not the time to be in this market.

In March 2015, the price made some attempt to go upwards but the upward attempt was halted in April 2015. Since then, the price has moved southward in a slow and consistent manner till now. The price has gone below the EMA 21 while the Williams’ % Range period 20 has moved into the oversold region. This emphasizes the weakness in the market, and as a result of this, the support level at 0.200 could still be attained.

The unpredictability of the market cannot be removed, for it is an inherent attribute. In reality, any speculator who would enjoy a long-term success would find ways to master the unpredictability. The outlook on San Leon Energy is bearish.

This forecast is ended by the quote below:

“Many years of experience are ultimately one of the keys to trading success. And it means that you need to stay the course for quite some time to be a good enough trader. Perhaps this is one reason why so few traders manage to survive the learning curve in trading.” – Dr. Brett N. Steenbarger

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