BIDCORP - 200dma 🧐

The stock reached a short term high of R460 before coming off the boil . (overbought RSI)

Price is now returning to a previous level of interest and the upsloping 200dma . It will be important to see where the buyers step in here and if the previous support holds.

The 200-day moving average is a technical indicator used to analyze long-term trends. It’s a line that represents the average closing price for the last 200 days. It helps traders identify whether the trend is up or down, and potential support or resistance areas. When the 50-day SMA crosses below the 200-day SMA, it’s called a “death cross,” signaling a bear market. Conversely, when the 50-day SMA crosses above the 200-day SMA, it’s called a “golden cross,” signaling a bull market.


Disclaimer: All ideas are my opinion and should not be taken as financial advice.

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