This is an Opportunity to Make 100 Points on Bowleven

PUBLISHED: May 21 2014 @ 06:34 | Comments (0) | More info about Azeez Mustapha

Bowleven stock (LSE:BLVN) has been in a long-term downtrend, with the inability to move significantly upwards. Someone who went short last year would have made some easy money. Even novice traders make money when there is a sustained bias that holds out very long.

In the chart, 4 EMAs are used. They are EMAs 10, 20, 50 and 100. The color that stands for each EMA is shown at the top left side of the chart. All the EMAs show that the stock is weak – occasional short-term rallies are often accompanied by southward moves. Such rally started at the beginning of May 2014, and the price has been coming down gradually since then.

The price may reach the support level at 20.00. This is a good chance to make some quick bucks. However, there is a possibility that the aforementioned support level may reject further downward trend and a sustained uptrend could start from there.

It is imperative that you take advantage of the price action with good timing. Your trading results have to do with the end results including possibilities. Profit-making is not the birthright of Smart Money only.

This forecast is ended with the quote below:

“Our low confidence can drive us further and further away from the market and many potentially successful traders have given up completely, perceiving themselves as failures but not recognizing that the reason for it is purely because they were not prepared and they failed to practice discipline.” –Razi Hammouda

Learn from the Generals of the Markets: Market Generals

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