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Friday, September 02, 2022 6:11:53 PM
OK, you know what a wedge is? Over two year span the price action has formed a wedge with support and resistance and it appears we have broken out of the Apex. Typically this means a strong move is coming, and a two-year wedge is poised for a large move. I have a couple sayings, the longer the base, the higher the space.
200 MA is the 200 moving average. And again if you don’t know what the 50 and 200 moving averages are then honestly I can just suggest you take a look at some basic technical analysis, because that’s day one page 1
The indicators or what I have shown above and below the price action. I think you know what the term divergence mean. So with stocks if price is going down or moving sideways, but the indicators are actually moving higher making higher lows as you can see from the trend lines that I have drawn that is considered bullish divergence And typically means there is bullishness building for the underlying stock. A lot of people only focus on price, I am a big trader on focusing on what are the indicators doing they will tell you where the ball is going almost like you watch the pulling guards in football to see where the running back is going don’t watch all fakes…same with indicators
There you go….
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