Tern Plc price analysis: TERN experiences a strong bullish breakout

PUBLISHED: 02 Nov 2020 @ 08:50 | Comments (0) | More info about Azeez Mustapha

Tern Plc shares (LSE:TERN) have experienced a serious bullish breakout, and this is just the beginning of a long-term bullish movement. Price was trending downwards from June 2020, almost to the end of October 2020.

However, there has been a significant bullish breakout at the end of October – something that is expected to continue for a considerable amount of time. The ADX period 14 is around the level 20, and the DMI+ is far above the DM-. It shows that while a rise in momentum is expected, the market is already taken over by bulls.

MACD default parameters, has its signal lines crossing the zero line to the upside, and histogram is already above the zero line.

This is the beginning of what is expected to be a long-term bullish journey. The next resistance levels to be reached by TERN are 14.00, 15.00 and 16.00.

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