Replies to post #147134 on Lightwave Logic Inc (LWLG)

[XenaLives]

I have always used SMA in the past but have been studying the effect of using the EMA on the 50, which weights recent prices more heavily.

Article that discusses this:
https://finbold.com/guide/golden-cross-pattern/#:~:text=EMA%20crosses%20above%20SMA,greater%20weight%20on%20recent%20prices.







From the article linked above:

The double bottom, like most chart patterns, is best suited for analyzing a market’s intermediate- to longer-term view to receive successful trading signals. Therefore, traders may find daily, weekly, or monthly data price charts for this particular pattern more useful.

The chart below shows the end of a downward market as the 50 EMA moves above the 200 SMA. We then witness a double bottom confirming the upward movement. Remember, the price should fall below the 50 EMA but stay above the 200 SMA (the support level).