Proteome Sciences Implodes!

PUBLISHED: 02 Nov 2016 @ 00:12 | Comments (0) | More info about Azeez Mustapha

Proteome Sciences stock (LSE:PRM) has imploded and crashed, leading to a huge Bearish Confirmation Pattern in the daily chart. This is just the beginning of a persistent downtrend.

In the chart, the ADX period 14 is at the level 40, showing a strong trending movement in the market. The DM+ is above the DM-, meaning that bears have upper hands right now.

The MACD, default parameters, has its signal lines and histogram below the zero line, all which point to a strong Bearish Confirmation Pattern in the chart. Further bearish movement is anticipated on Proteome Sciences, which would enable price to reach the demand levels at 5.50, 5.00 and 4.50 within the next several months.

Super Trading Strategies: Super Strategies

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.