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G'Day tstj, If you go back even further, to the 30min, 1 hour &...

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pmd3nka

3,749 Posts.

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09/08/20

15:33

Post #: 46408172
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Originally posted by taylorstjames ↑

I'm also looking at KZA atm.. Happy to be corrected with my thoughts below..

Here's the 5min 2 day chart (kinda helps see movement over the last two trading days.. Looks like the 20-WMA crossing over the 50-WMA (the fabled golden cross??) with a confirmation in the upwards movement of the MACD.. Looking okay so far to enter..

HOWEVER... When you take a step back and look at the bigger picture...

Sure, the SP jumped on the RPDD news, and looking at the WMA alone, it still looks bullish AF.. But when you take into account the MACD looking like a downward trend.. I wonder whether the price action at these levels will still continue..

Am I correct to see a potential red flag that might indicate a price pullback?

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G'Day tstj,
If you go back even further, to the 30min, 1 hour & daily timescales, all those MACDs are fine. It's **only** the 15 min timescale which has a crook MACD.

Held

Cheers.
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