Imagination Technologies Group: Stock Keeps Trudging Upwards

PUBLISHED: Sep 16 2015 @ 05:31 | Comments (0) | More info about Azeez Mustapha

Imagination Technologies Group stock (LSE:IMG) should keep on trudging upwards, despite all odds. This is a choppy market, in which the bulls have been making somewhat successful attempts to push the price upwards.

The price broke upwards in the early part of September 2015 – above the upper Trendline. The price went back into the Trendlines and has now gone above it. The price is yet to close above it and when it does, that would mean that the bullish effort would simply be renewed. By then, the RSI period 14, which currently reflects the price action in the chart, would have gone above the level 50, in a vivid manner.

Imaginations Technologies stock is thus expected to continue its bullish movement The distribution territories at 270.00 and 280.00 can be attained in the months to come.

This forecast is ended by the quote below:

“You have no control whatsoever over price movement, but you have complete control over how you respond to it. How you respond to it, however, must be based on the decisions you’ve made, not on how you “feel”. These decisions begin with preparation…” – DbPhoenix (Source: Trade2win.com)

What Super Traders Don’t Want You To Know: Super Traders

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.