I have previously. To be honest, a simple 50/200 cross does the same thing. Capture a major trend change.
Not knocking it as it gives a great visual of all the market participants at play. Not very often they come together and agree on valuation, for a period of time. If they do, expect a big break one way or the other.
PLS is in a major LT uptrend. If you are after a quicker exit, if that changes, I would be more inclined to watch out for macro/FA signals and some irrational exuberance to the upside.
I don't see any irrational exuberance to the upside for PLS, currently. More like the opposite, so I look for opportunities to add, like a test of the Magenta 200 SMA, gaps and fib retrace levels. I combine that with watching price action, which for me, is just a feel/instinct thing that I'm unable to articulate.
So below is the chart dating back approx' 5 years. An obvious uptrend with a couple of real tree shakes below the Magenta 200SMA. That was decision time for LT holders. Are you a believer or non-believer. I was a believer and added. Takes more than FIBO BS to get rid of me.
Below are links to my posts with MMA's and another calling the bottom, from mid 2022. Note my comment in yellow on the chart. That was based on price action I observed. I was already a large holder at that time and I used it to add more. I also added to my moderated posts substantially at that time (now 83). My posts were being moderated by FW's (Fair Weather), many of who are still posting on these threads. Laughable considering the chart posted below. The FW indicator is also one of my most reliable indicators.
I also added at 344 on the 23/3/23. I was flush with funds from the inaugural dividend. How stupid are those FW's. It was almost the identical setup to the June 2022 low.
(20min delay)