Iconic Brands Inc (ICNB)

[ctrumabll]

Trader53, the "Golden Cross" really doesn't apply to ICNB.

Quoting from your own cited "Investopedia" article:

http://www.investopedia.com/terms/g/goldencross.asp?o=40186&l=dir&qsrc=999&qo=investopediaSiteSearch

What is a 'Golden Cross'

The golden cross is a bullish breakout pattern formed from a crossover involving a security's short-term moving average (such as the 15-day moving average) breaking above its long-term moving average (such as 50-day moving average) or resistance level. As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes.


First, ICNB doesn't really have sufficient volume to use traditional technical chart analysis. The fact is, it is a thinly traded penny stock, and the technical tools you are claiming apply are designed for either trading indices, or more heavily traded stocks.

Second, while it may look all pretty on the blowup, the fact remains: this stock has gone from .0001/.0002 to .0002/.0003, and been stuck there. Not exactly a massive breakout, no? Your "golden cross" is really statistically insignificant noise.