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Soco international (LSE:SIA) has long been a wonderful market – an investors’ dream. Therefore, anyone who has gone long in the market since July 2013 when a long signal is generated in the midst of the continuous turbulence in the market should be smiling to their bank right now.
Based on the model used here, a long signal has been generated since July 2013. Since the latter part of September till now, the outlook on the price is a clean bullish one. The price is far above the EMA 21 while the Williams’ % Range has gone into the overbought region, depicting the bulls’ strength. Though there could be southward corrections, the price is expected to reach the resistance line at 450.00.
Conclusion: When a long signal was generated in this market around July 2013, bulls would look like fools then. But those who persevered are now enjoying the results of their effort. Speculators would do well to continue their effort until they attain their aims. Most real gurus have persevered with determination – irrespective of the challenges they encounter on the way – and they are now profitable. Going short in a bull market is suicidal. Do not forget that a suicide trading technique may sometimes pay off. It happens like that, for a bad trading style occasionally brings gains. Nonetheless, using a suicide trading technique would ruin your portfolio eventually. Lay down your trading rules and follow them. Laying down rules is common, whereas loyalty to them is rare.
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