GREY:SXRZF - Post by User
Comment by
PUNJABIon Jun 04, 2012 2:17pm
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Post# 19978228
RE: RE: CCO Death Cross
RE: RE: CCO Death Cross That was a golden cross when 50 ma crossed over 200 ma. Bullishness did not last very long. From the bottom of $17.25 it hit a top of about $26.41 a very nice spread & in a relatively short time. Good for swing traders but for buy & hold investors it was a trap. It was more of a fake head considering the short time.
Now 50 ma has dropped under 200 ma. Bearish & downward trend. Technically the stock is in a downward trend & the chances are that it will further trade lower & most likely find resistance during the rallies. Will this decline be short lived like the last bounce. Only time will tell.