This Is Why You Should Watch The 50-DAY MA
The 50-day moving
average is one of the popular moving averages followed by many
traders and investors. As you can see below, Genesis Microchip (GNSS)
closed right at the declining 50-day MA yesterday. Notice the 14-period
stochastic is in the overbought zone.
10:02:43 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Sell |
GNSS | sell stop at 14.24 | testing gap | 14.35 | 14 | 14.35 |
TK |
The issue gapped up at the open, but the 50-day
MA was too tough to overcome. GNSS began to sell off. The longer-term trend is
down, so I have decided to place a sell stop just below yesterday’s close.
10:42:18
Follow up on GNSS (Pt. 3)
It hit our target of 14. Cover the rest or adjust stop to 14.09. Next target is
yesterday’s low (13.90).
T.Kamada
Feel free to mail me your
questions.
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