View attachment 1873726For the fellow amateur chart lovers -
Just had a look at the VRX chart for the past 3 months. A few things I can pick up -
1. The first circle on the left - the 9 day EMA dropped below the 21 day EMA (death cross) usually signals a decline in SP (short term bearish outlook)
2. The middle circle - SP bounced off lower Bollinger Band which generally indicates movement of SP in opposing direction (which it did slightly)
3. The right circle - the 9 day EMA and 21 day EMA are tightening. Watch this if the blue line (9 day EMA) goes above the orange line (21 day EMA) = (Golden Cross) which usually indicates a bullish short term outlook (rise in SP and volume)
A good announcement coming up will go down nicely if the Golden Cross happens. I'm only an amateur TA sleuth and am happy to be corrected
Happy if anyone else would like to add anything
Looking forward to the next few months
Cheers
MG
