Considering 50MA and 200MAs, it is possible to see a Golden Cross where 50MA passes the 200MA in a few weeks.
This is just a possibility as the consolidation was great at these levels and if this is the bottom. May happen or not.
If the SP dips again below 50MA, I may consider opening a position, also considering it is a very long term play.
If that is the case, I would probably keep it for at least some years...
Anyway, this is just one indicator. Overall market sentiment and fundamentals should also support this thesis.
I wouldn't invest just looking at the technicals in this volatile market.
I recommend you to take into account other indicators as well and doing your own DD.
Not an investment advice. These are just my opinions on the probability.
This is just a possibility as the consolidation was great at these levels and if this is the bottom. May happen or not.
If the SP dips again below 50MA, I may consider opening a position, also considering it is a very long term play.
If that is the case, I would probably keep it for at least some years...
Anyway, this is just one indicator. Overall market sentiment and fundamentals should also support this thesis.
I wouldn't invest just looking at the technicals in this volatile market.
I recommend you to take into account other indicators as well and doing your own DD.
Not an investment advice. These are just my opinions on the probability.