Iofina Shares Shall Dip Further

PUBLISHED: Apr 22 2014 @ 17:49 | Comments (0) | More info about Azeez Mustapha

Iofina shares (LSE:IOF) are expected to dip further. The overall bias is bearish – established bias – and the possibility that the price may dip further is very high.

The price is below the EMA 21. The Williams’ % Range period 20 recently sloped upwards in the context of a downtrend. This is a kind of ruse to make buyers think that the rally would push the price significantly upwards. The rally has proven to be a trap, for the price has headed back southward. The Williams’ % Range is going into the oversold territory.

When the price possibly drops further; it might reach the demand level at 30.00. In this kind of market, money flows from noobs to pros. It is advisable to seek short positions only.

One strategy that works in a bearish trend is enough for this market. Statistics have revealed that a combination of two or more strategies may not improve trading results. That kind of combination would simply decrease the overall increase of the equity curve. The only way to enable an agreeable effect on our portfolio is to capitalize on our positive positions.

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