A Stormy Decline Is Coming on Nanoco

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Nanoco shares (LSE:NANO) are supposed to experience a stormy decline, following a breakout from the currency base, which is an equilibrium phase.

The market has entered an equilibrium phase since February 2016. The more the equilibrium phase holds out, the more the possibility of a stronger breakout.

A closer look at the RSI period 14 shows that it is currently below the level 50, depicting a rise of bears. It can also be seen that the price is almost below the lower Trendline. Further southward movement is possible.

When a breakout to the downside happens on Nanoco, it would take the price towards the demand zones at 35.00 and 30.00.

This forecast is ended by the quote below:

“This is simple yet hard for millions to grasp: the stock market is nothing more than a collection of opinions. Two companies with similar fundamentals can have vastly different market capitalizations, and thus unequal and divergent stock prices. An investing strategy based on buying stocks that are relatively expensive in the short term spells disaster more often than not. In fact, the statement can be generalized to investing strategies based on doing just about anything in the short term. The same goes for using the movements in that mass of opinions to make broad statements about the economy at large.” – Greg McFarlane (Source: Trade2win.com)

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