That would also mark a failure to sustain above the and rising levels and could yield a drop to $44.16 (previous day's low). On the higher side, break above $46.16 ( Apr 21 high) would be needed to mark invalidation.
- The much hyped golden cross over between 50-SMA and 200-SMA could be seen if prices see a break above $46.16.
- This is usually a laggard indicator, however, note that we are coming off from a one-and-half year long slowdown in prices.
- Hence, the crossover could add credence to the possibility that long-term bottom has been made.