Sell Beacon Hill Resources at 0.80 and Exit at 0.20

PUBLISHED: Nov 20 2013 @ 07:39 | Comments (0) | More info about Azeez Mustapha

Beacon Hill Resources (LSE:BHR) can be sold at 0.80 and later exited at 0.20 in what could potentially be a profitable short trade. The long-term bias is downwards and the bulls are too weak to effect any meaningful changes, until further notice.

The price has been trending downwards for several months, breaking new lows, even when some chart readers think that the price would turn upwards. The price is currently staying below the EMA 21, and the Williams’ % Range has been staying perpetually in the oversold region. It is more sensible to call short trades. Any rally here would be temporary an insignificant.

Conclusion: The best thing to do on Beacon Hill Resources now is to sell short and let it run. In the long run, you may begin to smile at your bank. Irrespective of what you are doing right now, if you do not take any action in the market, you would not have any results to show for it. Mere wishful thoughts do not bring profits.

This forecast is ended with the quote below:

“If you have a good strategy that has worked well for a long time, then stick to it even during a drawdown. Reduce the position size if necessary. However, if you change or give up your strategy at short notice, you will have even less chance of surviving the drawdown. It may be hard to continue trading right through a drawdown, but you will be very glad at the next high of your equity curve that you have stayed the course.” – Marko Graenitz (Source: www.tradersonline-mag.com)

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