Premier African Minerals - a weak stock

PUBLISHED: Jun 18 2019 @ 04:19 | Comments (0) | More info about Azeez Mustapha

Premier African Minerals shares (LSE:PREM) is a weak stock and it can remain so for a long time. The market has been forming a series of lower highs and lower lows for the past several months, proffering sellers with ample opportunities to go short at better prices.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart.

All the EMAs are sloping downwards and, price, though choppy, is below the EMA 10. This shows a strong “sell” signal.

Further lower highs and lower lows are expected in the market within the next several months. You may want to take rally attempts on PREM as short-selling opportunities.

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