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How use Moving Averages A moving average can act as support or resistance. In an uptrend, a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure. In an uptrend , a moving average may act as support; like a floor, the price hits the level and then starts to rise again. (1) In a downtrend , a moving average may act as resistance; like a ceiling, the price hits the level and then starts to drop again. Crossovers are one of the main moving average strategies. Another strategy is to apply two moving averages to a chart: one longer and one shorter. When the shorter-term MA crosses above the longer-term MA, it's a buy signal, as it indicates that the trend is shifting up. This is known as a "golden cross." (2) on the other side if the shorter-term MA crosses below the longer-term MA, it's a sell signal, as it indicates that the trend is shifting down. This is known as a "death cross." The second type is a price crossover (3) which is when the price crosses above or below a moving average to signal a potential change in trend.
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by ChartDepth
Bullish Going Into Earnings- UpdateENPH is looking really nice here heading into earnings. All previous price targets were reached and the gap on the upside has been filled. Last quarter ENPH sold off on a slight earnings miss however 9 times out of 10 they will beat on earnings. Would like to see ENPH start to outperform other solar manufacturing companies such SEDG with respect to price action- but will certainly be looking for a gap-up and breakout from this triangle. Some support and resistance levels along with some RSI-Based supply and demand levels to keep an eye on- Bullish and looking for a breakout - Previous charts are attached below - Bullish all the way - Falling wedge on the weekly timeframe (See Chart Below) - Flagging on the hourly timeframe (Not Pictured) - Slight hidden bullish divergence on the RSI - SMA's converging and beginning to curl upwards - Symmetrical triangle on the daily timeframe PT1- $176.03 PT2- $182.30 PT3- $189.36 PT4- $191.48 Weekly Timeframe Previous Charts-
NASDAQ:ENPHLong
by jacobosiason7
2
Bitcoin is primed and ready for some action As you can see. Btc was shut down last time a similar structure was formed. I don't expect a 50% but I do expect a proper 30% at least. That brings us all the way down to 38. This could hold here around 40s, but the way it shot up today was too fast and it will come right back down to 40, 41k at least. Depending on how we bounce we may go lower. 43k is crucial as its the 20 week MA. We have flipped it from support to resistance so we could actually go back to bear market status IF we lose it. The golden cross is another thing i want to discuss. It is going to fail. It will death cross. Then it will re cross golden in oct or nov. This has happened many times in BTC past. I expect a bull run later this year.
Long
by YourWifesNewBoyFriend
5