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Thursday, April 17, 2014

San Leon: Go short until the price reaches 2.00.

San Leon shares (LSE:SLE) are very weak; so they would continue going downwards until they reach an accumulation territory that is strong enough to challenge the downtrend.

The price has been dropping since early February 2014. It consolidated this month, but later broke out below the lower Trendline. The RSI period 14 is likewise below the level 40, going towards the level 30. The weakness it strong enough to continue pushing the price downwards, and the price may reach the accumulation territory at 2.00.

Conclusion: Shorting San Leon shares could make us realize profit. The entry criterion is not the only thing we need to make money; so we need to manage the trade very well. You would thus need to make the decision whether or not to take an action. No-one else would make the decision for you. When you are pressed and you want to go to toilet, you cannot send someone to do that for you.

This forecast is ended with the quote below:

“Keep learning, keep growing, keep tweaking your trading. Stick with what makes you money and allows you to keep it, discard what does not…The question is not where you are now in your trading journey and how much money you have, the real question is who you will be and what you will have five and ten years from now if you keep doing what you are doing. Keep studying, keep growing, never give up.” – Steve Burns (Source: Tradersonline-mag.com)

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Eye-opening trading lessons: Lessons from Expert Traders




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