Leni Gas: Sell Down to 0.2

PUBLISHED: Jul 04 2013 @ 01:32 | Comments (0) | More info about Azeez Mustapha

In the past several months, Leni Gas stock (LSE:LGO) has been a bear market. The bullish attempts that happened in April and May, 2013, proved to be futile, for it merely happened to be a rally in the context of a downtrend.

On the chart, the price went below the EMA 21 last month, and it has even gone further downwards this month. The Williams’ % Range period 20 is in the oversold situation. Now, that does not mean that the market is expected to bounce upwards (for any upwards bounce would merely be another short-selling opportunity); it means the stock is weak and will continue to trend downwards. So sell the stock down to the demand level of 0.2.

According to Dr. Chris Kacher… what does not kill you makes you stronger if you are willing to look for solutions…. The solution on this market is to sell your stock, not to buy it.

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

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.