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The technical reasons given below show why it is not a surprise that the bulls are interested in pushing Vialogy shares (LSE:VIY) further northward. Following some perpetual downward pressure in recent times, the price now appears to be making bullish attempts.
Two Trendlines are drawn to show where the price was recently consolidating. There was heavy sell-off this month, but further southward momentum was eventually rejected as the price found a bottom last week. Right now, the price has broken the upper Trendline to the upside: as the RSI period 14 went above the level 50. This is a bullish signal, and the price should continue to journey towards the north irrespective of some temporary pullbacks that are sure to happen. Herd mentality is often responsible for significant price fluctuations, not economic events.
What an average human being prefers is contrary to the principles that really guarantee success in the markets. Speculators would thus do well to grasp the meaning of the uncertainty that comes with each methodology instead of evaluating trading in hindsight.
This article is ended with the quote below:
“I learned to separate my trading life from personal life. Once I figured out how to do both of those things my focus dramatically increased.” – Anthony Crudele (Source:www.tradersonline-mag.com)
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