The last week's trading action shows the downside test of a of a 40-degree uptrend that began in September; last Friday's close of $0.029 sits exactly on this trendline:
Taking a slightly broader view, daily price action continues above the 20-day moving average, which currently sits at $0.025:
For the first time in 2019, September's trading action shows a cross and inversion in the EMA Ribbon; from January to August, the 55-EMA (red line) was always at the top of the ribbon. For the last two weeks however, the 55-EMA has become the bottom of the ribbon, while the 20-EMA (yellow line) is at the top:
To pull three sentences from Investopedia:
"When the ribbon contracts [mid August], that indicates the price has entered a consolidation or pullback phase.
When the ribbons cross [late August], that can indicate a potential trend change. Some traders may wait for all the ribbons to cross to confirm a price reversal, while others may only need to see a few of the MAs cross before taking action.
When the ribbon is expanding [September], that helps confirm a strengthening trend. For example, during a strong price rise, the MAs will fan out as the shorter MAs pull away from the longer-period MAs."
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Last
1.0¢ |
Change
0.001(5.56%) |
Mkt cap ! $13.28M |
Open | High | Low | Value | Volume |
0.9¢ | 1.0¢ | 0.9¢ | $2.141K | 232.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
18 | 2321235 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 9076008 | 29 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
18 | 2321235 | 0.009 |
24 | 8109857 | 0.008 |
34 | 6097699 | 0.007 |
14 | 5087291 | 0.006 |
8 | 5150000 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 9076008 | 29 |
0.011 | 5475299 | 19 |
0.012 | 6197798 | 12 |
0.013 | 2310000 | 6 |
0.014 | 2964523 | 9 |
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