OTCPK:RKNLF - Post by User
Comment by
kevinNashon Oct 15, 2016 3:28pm
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Post# 25347316
RE:RE:RE:Golden Cross
RE:RE:RE:Golden CrossJust simply examine a longer term chart like the weekly chart of Redknee. Put three moving averages on the chart; the 20 week, 30 week and 40 week moving averages. These are great for seeing the basic trends developing. Each trend line reacts at different rates. Last time the 20 week turned up and crossed over both the 30 and 40 Redknee moved from 2.75-5 dollars in 5 months. Right now the 20 and 30 week moving averages are a penny or two away from crossing over the 40. This also coincided with the golden cros Granted volume needs to increase but as time goes by the longer term trend establishes itself. These trends apply to every type of analysis. It filters out the noise or volatility. Friday was a perfect example of noise. Share price was dropped on very low volume. This is irrelevant as nobody sold into the move. Low volume drops or increases are filtered out over longer periods. This is why a 50 day crossing a 200 day moving average signals an established trend. 20 week, 30 week and 40 or 50 week trends are better gauges of bigger moves.