hello guys , i am new to technical analysis i have PAG in my 401k and it has had a big run but when i look at the day chart there are 2 big green candles closeing near the top.& a riseing 8-20-50 moveing ave . SO MY QUESTION IS THIS BULLISH OR BEARISH ? PLEASE EXPLAIN SO I CAN LEARN AND UNDERSTAND(READY TO BREAK OUT OR DOUBLE TOP ??? ETC,ETC ) THANKS
With pleasure... IMO, the price action on the 23rd is showing that the move in penske is getting a bit tired. What 'I' would do (speaking as a trader) is sell it when it goes above $17 on Monday, which could quite possibly be for only a brief moment, and wait for it to pull back, and get back in if it closes nowhere lower than it's 45 ema over the next week or 2... :eek:
thanks for the info what $ amount is the ema at ? also i got in on the 23 and made some $ in my 401k now i am looking for me exit move any feedback?