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Wednesday, September 16, 2015

Imagination Technologies Group: Stock Keeps Trudging Upwards

Imagination Technologies Group stock (LSE:IMG) should keep on trudging upwards, despite all odds. This is a choppy market, in which the bulls have been making somewhat successful attempts to push the price upwards.

The price broke upwards in the early part of September 2015 – above the upper Trendline. The price went back into the Trendlines and has now gone above it. The price is yet to close above it and when it does, that would mean that the bullish effort would simply be renewed. By then, the RSI period 14, which currently reflects the price action in the chart, would have gone above the level 50, in a vivid manner.

Imaginations Technologies stock is thus expected to continue its bullish movement The distribution territories at 270.00 and 280.00 can be attained in the months to come.

This forecast is ended by the quote below:

“You have no control whatsoever over price movement, but you have complete control over how you respond to it. How you respond to it, however, must be based on the decisions you've made, not on how you "feel". These decisions begin with preparation…” – DbPhoenix (Source: Trade2win.com)

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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