Industry: Business Software & Services
(Blue line) is Support
(Red line) is Resistance
direct your attention 2018-01-08
Look a big green weekly candle closing above the resistance (Red line) in 42. 40
(Red arrow) long lower shadow testing the new Support (Blue line)
This idea need some weeks
because I use the moving averages in a discretionary way
I use this norm:
If the price is too far of my (Red Moving Average)
then I need to wait some kind of approached between the price and the (Red Moving Average) either a deep pullback or a price consolidation between 46.00 and 50.00
Do you know that the price show a behavior with regard to Moving Averages and that the interpretation of this behavior is discretionary or qualitative.
For those reasons my interpretation and opinion may be different from that of another individual who is observing the same stock chart.
It is not scientifically proven