JamesRennie

Watch 200 daily MA

Short
TSX:BNS   BANK OF NOVA SCOTIA
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Watch for stock to try and stay above the 200 MA if it does dip below 200 MA the likely hood of death cross in linked post is much more likely.

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What does this mean?
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JamesRennie Chaython
@Chaython, Hey this chart is bit old now. It means based on what I said I January 31st I would have sold February 27th. The reason I would have sold is on January 31st I said it's likely that if the price went below the blue line which you can see it did then I expected what is called a death cross. Meaning the 50 daily moving average would cross down over the 200 daily moving average. That crossing is known as a death cross a very bad sign for a stock. As you can see that is exactly what happened march 9th when the Orange line crossed the blue line. Looking at it today i'd consider are those higher lows and higher highs in the candle formations? Will the blue line act as resistance and send the price back down? Should be some government of Canada numbers coming out this week. What impact will that have? Many things to consider. Are you starting to learn about TA?

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