8/21EMA-10/30MA and Supertrend on MTF with candlestick analysis
CRK appears to be gaining momentum along with several others in the Oil and Gas Production.The bottom chart on the weekly timeframe indicates that a continuation uptrend occurred after the price rose above 10/30 week MA. This uptrend augers well with Stan Weinstein’s Stage 2.
The top chart on the daily timeframe, on the other hand, shows a strengthening price momentum after the price rose above 8/21 day EMA, a well-respected MA indicator for short-term trading.
Given those bearishness of the overall market, price may retreat again Hence, the importance of a trailing stoploss.
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