Annual Forecast for Oxford Biomedica (2018)
By
Azeez Mustapha
PUBLISHED:
Mar 23 2018 @ 07:18
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More info about Azeez Mustapha
Until recently, Oxford Biomedica shares (LSE:OXB) were going upwards, from the beginning of January to March, 2018. Before then, the market was ranging.
In the short-term, things are bearish. The ADX period 14 is at the level 30, suggesting a considerable amount of momentum in the market. The DM- is above the DM+ (bulls’ hegemony).
The MACD default parameters, has its histogram below the zero line, while it signal lines are still above the zero line, but heading downwards.
The short-term bearish correction in the market will eventually enable the MACD signal lines to go below the zero line, thus leading to a Bearish Confirmation Pattern in the market.
Then what starts like a bearish correction will translate into a strong bearish bias. The outlook on Oxford Biomedica is bearish for the year 2018.
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