yes true.
Extensive quantitative work on moving averages shows that:There are no “special” moving averages. (I.e., the 200 day is not special compared to the 193, 204 or any other average.)Pricing crossing or touching a moving average does not have significance for future market direction.The slope of a moving average is not a meaningful indicator of trend.Crossings of moving averages are not meaningful indications of trends.Indicators built from moving averages are not reliable indicators of trend.In short, most of the things that traditional technical analysis teaches about moving averages do not stand up to quantitative scrutiny.If there is any noticeable effect it is on the day that the price is crossing the average, because traders are reacting.
That sounds like someone. MAXxACTION X
New TA/Charting, page-15088
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Last
67.5¢ |
Change
-0.040(5.59%) |
Mkt cap ! $1.642B | |||
| Open | High | Low | Value | Volume |
| 70.0¢ | 71.0¢ | 67.0¢ | $7.065M | 10.30M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 55 | 289528 | 67.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 68.0¢ | 367046 | 53 |
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| Last trade - 13.54pm 13/09/2024 (20 minute delay) ? |
| LTR (ASX) Chart |