Stay away from this stock!

PUBLISHED: 07 Sep 2022 @ 11:58 | Comments (0) | More info about Azeez Mustapha

Synairgen Plc stock (LSE:SNG) is not attractive at all. The market has long been in what can be called a frustrating equilibrium state. And this is not something that will end soon, as the sideways movement has been going on for several months.

The ADX period 12 is around the level 20, which shows a lack of momentum in the market. The DM+ is not above the DM-, and vice versa, which means neither bull nor bear prevails. The MACD default parameters does not have its signal lines and histogram above the zero line. Everything is interwoven together. This kind of formation is strange.

There is neither a Bullish Confirmation Pattern, nor a Bearish Confirmation Pattern in the chart. Traders should stay away from SNG until a directional movement occurs, and this will take a long time to happen.

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