It'll either give up and fall back or break on through to the other side. Even if it does that, there is only 50 cents or so to the next serious resistance, mid-June high.
ty for the observation. i think you mean serious resistance at the 200dy SMA. Frankly, I've never quite understood whether or not it should be simple vs. exponential or which numbers most matter.
I see on most charts for MACD that 8&17 or 12&26 are the primary crosses to watch. Many use the 50 & 200 on the main chart. In my short term work I use fibonacci #s 8 13 21 34 55. I shouldn't wait for a stock to break down below the 50day MA, I want to be selling if it can't hold one of the shorter MAs depending on the previous strength of the uptrend.
If you switch from a daily to a weekly, or an hourly or shorter do the same MA numbers have the same meaning? I just don't know.
I do know that once resistance IS broken, then the previous resistance point becomes a support point. I like to think about these areas as congestion points and draw horizontal lines across charts at points where uptrends faltered previously or downtrends held support.
I typically use 8day Bollinger Bands with 2 std.deviations for targets on swing trades. I've found that the stocks I like to trade typically oscillate primarily between the upper and lower bands of the BB8.
I've been posting about AUDC over the last few sessions. I lost patience midday today, and sure enough by EOD AUDC kissed the top of the band.
What attracted me to GILTF was the late trading action on top of the candlestick pattern. Just because a stock has increasing volume over the last 3 sessions and gained more today than yesterday, and more yesterday than the previous one is no guarantee of course.
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