As predicted, the short term pull back occured. However it is not all bad news.
I have some good news fellow ASX:MAY holders, this morning's price action has made something magical happen:"trading oscillations between the 50-day EMA and longer term 200-day EMA... with 50/200 day crossovers signaling bullish golden crosses or bearish death crosses." source: https://www.investopedia.com/articles/active-trading/011415/strategies-applications-behind-50day-ema.asp
To be clear, the textbooks say the definition should be a SMA, however, I think this is evolving as traders want to get ahead of the curb and use the faster EMAs (a similar thing is happening with the evolution of the double EMA and tripple EMA etc etc..)
Source: The Handbook of Technical Analysis, Mark Andrew Lim, Wiley (2016) pg 455.
May Chart, page-6539
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Last
2.2¢ |
Change
-0.001(4.35%) |
Mkt cap ! $74.14M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.4¢ | 2.1¢ | $444.7K | 19.98M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2048367 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.3¢ | 1402823 | 5 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| MAY (ASX) Chart |