Theres a nice resistance with the 100ma too that was broken today.
goodguy
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@I4, Thanks. I really like that. Have you found that is often a sign of trend reversal? I haven’t personally had much success using moving averages. If this is often helpful it seems it might be a useful tool to screen groups of stocks. Any help you can give me would be appreciated.
I4
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@goodguy, Ive seen plenty of stocks bounce off a ma 3-4 times and it doesnt cause a trend reversal when broken. I rarely see 6+ and such a clear trendline acting together which makes this so significant to me. It would be interesting to backtest 6+ tests of a ma over the span of a year, maybe each test a week apart to filter out clustering around a ma, there cant be too many cases like this. From what Ive heard simple strategies surrounding ma's never work backtested so it probably doesnt mean too much. I think the trendline break holds more weight but the ma break probably holds some value in this case.
Theres a nice resistance with the 100ma too that was broken today.