Sky Gold Corp V.SKYG

Bullish Cross

[howestreetbull]

SKYG.v getting the bullish 13/34 ema x on the 15 mins at 10 am this am...fyi

 

[Maxdude]

I am not an expert on charting, when it come to stocks. Can you please explain. T

[EhEhRon]

The 13 week moving average line crossed above the 34 week moving average.  This is a bullish indicator.

[lifegoeson]

I am of the old school where charts are very important for companies with a revenue history, however, they do have a purpose in penny stock plays. Charts are a composite of several factors in the market, thus more of an expression of the dynamics of forces driving the price up and down. In the case of SKYG, several factors drove up the price, i.e. investment by Eric Sprott, started drilling

[EhEhRon]

One could argue that technical analysis is the most important analysis for trading penny stocks.  They have very simple fundamentals and next to useless quants.  TA at least understands human trading habits.

[lifegoeson]

EhEhRon.... I agree, TA is an excellent composite of human trading habits. These habits are pushed by the information coming from the market conditions, company, and press releases, i.e. if results are coming buy, if results are good buy, if samples are delayed people tend to sell, and on and on.... people are great at reacting and pushing the price in the right direction. Great to see buyers on a