Looking forward to your technical analysis kates9999
Here's my "Technical" 2 bobs worth
Very happy for additional comments from Technical analyst guru's
My take is;
Starts of significant momentum moves often occur on the break of a consolidation which is either sideways or can form a triangle, pennant, wedge or channel.
Regardless of type of consolidation, the break from the consolidation confirms the direction the stock should move in.
During the period of consolidation there is no merit in taking note of the moving averages as the range is just choppy.
However, once momentum restarts the stock is trending again and the moving averages again take on significance - especially good when the moving averages of the different time periods are fanning out as we see now.
I use
8 period moving average - Green
20 period moving average - Black
50 period moving average - Red
200 period moving average - Blue
The chart above (I use Incredible charts - excellent package and created by an Aussie) is a 2 year period
The one below is 5 year period.
I have left off the other indicators I use but rest assured they are supportive of the momentum and direction of movement.
One reason I use Incredible charts is because of the Twiggs Money Flow indicator - which I have found to be incredibly reliable - if you'll pardon the pun.
Here's the link to the Incredible charts Money Flow Indicator for any that are interested
https://www.incrediblecharts.com/indicators/twiggs_money_flow.php
Cheers and GLTAH
IO
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