Remember when price has been uptrending a for a long time and
hasn't retested a major MA like the 50 day or 200 in months, I find
that almost always price will at least bounce off it at least
temporarily.
One could write a scan to look for stocks coming down from a
major uptrend and simple place a GTC buy limit order near a major
MA. I find the 50 and 200 MA's are best, however in very strong
uptrends price will do the same with the 20 MA if it hasn't tested
it in a long time.
CMG - Chart Link - logical
Posted by matt on 11th of Nov 2019 at 11:18 am
CMG - Chart Link - logical bounce off the 200 day MA.
Remember when price has been uptrending a for a long time and hasn't retested a major MA like the 50 day or 200 in months, I find that almost always price will at least bounce off it at least temporarily.
One could write a scan to look for stocks coming down from a major uptrend and simple place a GTC buy limit order near a major MA. I find the 50 and 200 MA's are best, however in very strong uptrends price will do the same with the 20 MA if it hasn't tested it in a long time.
nice one Matt!
Posted by morton7 on 12th of Nov 2019 at 09:34 am
nice one Matt!