“Andy taught me the importance of charts and demonstrated just how powerful technical analysis could be. As an ‘options guy’ who loved numbers and fundamentals, this was a bit of a stretch for me at first. I couldn’t believe that some lines on a screen could dictate how a stock behaves,” Levy writes. “Boy, was I wrong.”
“Major moving averages can have dramatic influences on the price of a stock. They can act as support or resistance and serve as propellants when a stock breaks above or below one. Aside from the relationship that moving averages have on the stock itself, the relationship between the averages can create even more powerful shifts in stock trends, especially in the popular 50-day and 200-day averages,” Levy writes. “And that’s exactly what we’re seeing in one of America’s favorite stocks, Apple.”
Much more in the full article here.
MacDailyNews Take: Golden Cross!