There Is a Bullish Signal on IGas

There is a wonderful opportunity to go long on IGas (LSE:IGAS). The shares are expected to go northward slowly or steadily until further notice. This means it is high time permabears smoothed their positions; otherwise they would discover maggots in a heap of salt.

The market was in a bullish mode until the end of the year 2012. Then, the market fell from January to June, 2013 (which was a clean downtrend). Nevertheless, the price reached a yearly bottom in May, after which further bearish pull was rejected. Even the bearish threat that occurred in June could not pull the price beyond the yearly low, and since then the price has begun to rally. The 4 EMAs (EMAs 10, 20, 50, and 200) that are used on the chart give us a clear ‘buy’ signal. The recent southward retracement is a good chance to go long. The price could go as far as the resistance level at 140. What should bears do then? They need to take their profits and run – for bulls are being favored right now. Bears should pay homage to the hare, i.e. run as fast as they can.

Ground-breaking lessons from expert traders: http://www.harriman-house.com/experttraders

 

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