Stay away from Xtract Resources!

PUBLISHED: May 25 2017 @ 00:36 | Comments (0) | More info about Azeez Mustapha

Xtract resources stock (LSE:XTR) is a no-go area for those who invest logically. The price has just been going sideways for the past several month, and that has formed an extremely tight base.

Although the ADX period 14 is above the level 80 (strong momentum), while the DM+ is above the DM- (bullish signal), the MACD, default parameters, is flat. The signal lines and histogram, are almost as flat as the zero line. That means the market should be disregarded until there is a rise in the momentum.

On Xtract resources, price is flat, and the base is strong. However, there would soon be a rise in the momentum, which, according to the ADX, might favor the bull.

Traders’ Mindset: Traders’ Mindset

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.