Blinkx – the Bears Are Happy

PUBLISHED: May 07 2014 @ 03:09 | Comments (5) | More info about Azeez Mustapha

Blinkx stock (LSE:BLNX) is a bear market and the bears are happy as they follow the downward trend. The price has been falling since the beginning of the year 2014. In recent times, the price has been consolidating, while it is clear that further upward push is being rejected. The price could continue trending further downwards.

Even those who follow the trend on simulation mode would have made clean virtual gains. If you cannot make gains in simulation mode, how can you do that on real portfolios? The EMA 21 is sloping downwards, and the Williams’ % Range period 20 is also sloping downwards after being in the oversold situation for some time. There is currently a bearish candle forming in the chart, and it would lead to a renewed ‘sell’ signal when the price closes again below the EMA. There is a target at the accumulation territory of 70.00.

Any technical bounces in this market would continue to proffer short-selling opportunities. With some of the downtrends in the markets, it is clear that those who forecast rally on short-term technical bounces for fundamental reasons have sometimes been proven wrong, irrespective of the fact that they are highly educated and paid.

This forecast is ended with the quote below:

“You can’t be worried about taking a loss. In fact, you need to be able to embrace a loss. It’s just part of the process. If you can’t cut a trade and take a small loss then you’ll never be a trader.” – Perry Kaufman

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