Golden Cross Occured Friday For those who use technical analysis - Supreme had a golden cross friday. Supremes 50DMA crossed the 200DMA.
Obviously I think we are in for a long term bullish trend - based on fundamentals. The chart is also suggesting the same.
What Is a Golden Cross?
The golden cross is a chart pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average. The golden cross is a bullish breakout pattern formed from a crossover involving a security's short-term moving average (such as the 15-day moving average) breaking above its long-term moving average (such as the 50-day moving average) or resistance level. As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes.