Why? Looks like it’s heading straight to 50 cents and below
The reason was that the 20 day simple moving average was above the 50 day simple moving average, indicating an uptrend. When the price is below both averages, while the 20 is still above the 50, this indicates an ideal oversold condition corresponding with both a bounce higher and a long term uptrend. Like someone jumping on a trampoline, pulling a slingshot, using a bow and arrow, cocking a gun, or some other devices that might be too distracting. Many market participants have identified the (20 50) pair as a buying opportunity, anticipating reliable appreciation for decades. Adjust the parameters as necessary or as desired, or maybe not at all, it makes no difference. The numbers just have to get the gist of things, not make the common mistake of trying to define situations.
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