Hot Features
Premium
Trade like a pro: Leverage real-time discussions and market-moving ideas to outperform.
Albeit the current bias on TXO stock (LSE:TXO) is bearish, the bias is expected to vanish sooner or later, as the stock resumes a long-term upward journey. This is indeed a buying opportunity of a lifetime! Even, should the stock trend further lower, the movement is going to be transitory, for it would merely give a room to buy at a better price.
TXO is currently a buy-and-hold paradise. On the chart, it can be seen that the RSI period 14 is converging towards the level 50. It would ultimately break above it as the stock would inevitably assume either a steady and slow upward journey or a rapid one. From trading below the lower Trendline, the price has gone back into middle of the Trendlines. When the price breaks the upper Trendline to the upside, there would be a confirmation of a bullish bias on the chart. By then those who had entered earlier would have made nice profits.
There are demand levels at 0.15 and 0.14 – the price is not supposed to go below those levels. Meanwhile, it could go towards the supply levels of 0.5, 0.75 and 1.0 eventually.
This article is ended with the quote below:
“If you don’t take a chance, you won’t get hurt — but on the other hand, you’ll never know what could have been. In addition, if you don’t take risk after risk by making trade after trade, you’ll never sharpen your trading skills, and so will never become a winning trader. So when you face risks and possible losses, don’t despair.” – Joe Ross
Ground-breaking lessons from expert traders: http://www.harriman-house.com/experttraders
