Amazon.com shares (NASDAQ: AMZN) have been caught in a bullish
convergence. The price was recently going upwards, though there is now a
pullback in the market.
The appearance of the ADX period 14 shows a volatile
sideways movement which is being pulled by the bears. To explain further, the
MACD histogram is above the zero line; plus the signal lines which are below
the zero line are sloping upwards, in the face of the current pullback. The
signal lines would eventually cross the zero line to the upside. This means the
current pullback is a good opportunity to go long.
Conclusion: The
price of Amazon.com could eventually assume a renewed upward bias, going
further northwards. As this happens, we would do well to capitalize on the
direction of the markets, while checking the irrational emotions that surround
trading. Honestly evaluate your trading weaknesses, and plan ahead to avoid
situations that could expose you to temptation.
This forecast is ended with the quote below:
“You may have been taught that money is sacred and that
it is morally wrong to risk it and lose it for any reason. Many people hold
this belief, but if you want to trade actively, you have to change the way you
look at money. From the perspective of the serious trader, money is merely a
vehicle used to make more money. It is just part of the tools you need to trade
successfully.” – Joe Ross
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
No comments:
Post a Comment