Conclusion of this TA:
I do not expect to retest the moving averages until we get closer to the pinch point of this pennant. To fade a 50-day MA retest, we would need a sharp (3 - 7%) decline over the next 2-3 weeks.
I do not expect to retest the moving averages until we get closer to the pinch point of this pennant. To fade a 50-day MA retest, we would need a sharp (3 - 7%) decline over the next 2-3 weeks.