Who's ready for a Rocky Mountain Golden Cross?
Post# of 75011
Posted On: 11/02/2016 1:56:55 AM
Who's ready for a Rocky Mountain Golden Cross?
What's a Rocky Mountain Golden Cross? Not, its not some mountain pass in Montana or Wyoming. A Golden Cross is a technical event where a faster moving average crosses over a slower one....And the Goldenest (if that's a word) of Golden Crosses is when the 50 DMA crosses over the 200.
Well guess what is setting up for RMHB? Yeppers, a 50/200 ''Rocky Mountain'' Golden Cross. For some TA devotees a Golden Cross is only valid when both the 50 and 200 MAs are climbing higher. Well guess what? Yes, with RMHB both are.
What does it signal? A Golden Cross is a signal for a potential breakout to a new and higher trading range, sometimes called a ''Blue Sky Breakout''. Sorry to rain on everyone's parade, but obviously if it does pan out and RMHB does breakout from this current range in and around 6 cents....Well, it doesn't go on forever, at some point a new range is established...
So where do things stand right now? the 50 DMA is at .0367 and the 200 is at .0396 and yes....both are climbing higher. For those unfamiliar with moving averages its pretty simple. The 50 DMA is the average closing price of the last 50 trading sessions, the 200 is the average of the last 200 sessions.
Happy investing everyone.
What's a Rocky Mountain Golden Cross? Not, its not some mountain pass in Montana or Wyoming. A Golden Cross is a technical event where a faster moving average crosses over a slower one....And the Goldenest (if that's a word) of Golden Crosses is when the 50 DMA crosses over the 200.
Well guess what is setting up for RMHB? Yeppers, a 50/200 ''Rocky Mountain'' Golden Cross. For some TA devotees a Golden Cross is only valid when both the 50 and 200 MAs are climbing higher. Well guess what? Yes, with RMHB both are.
What does it signal? A Golden Cross is a signal for a potential breakout to a new and higher trading range, sometimes called a ''Blue Sky Breakout''. Sorry to rain on everyone's parade, but obviously if it does pan out and RMHB does breakout from this current range in and around 6 cents....Well, it doesn't go on forever, at some point a new range is established...
So where do things stand right now? the 50 DMA is at .0367 and the 200 is at .0396 and yes....both are climbing higher. For those unfamiliar with moving averages its pretty simple. The 50 DMA is the average closing price of the last 50 trading sessions, the 200 is the average of the last 200 sessions.
Happy investing everyone.
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