8/21EMA-10/30MA and Supertrend on MTF with candlestick analysis
$CRK appears to be gaining momentum along with several others in the Oil and Gas Production.
The bottom chart on the weekly timeframe indicates that a continuation uptrend occurred after the price rose above 10/30 week MA. This uptrend augers well with Stan Weinstein’s Stage 2.
The top chart on the daily timeframe, on the other hand, shows a strengthening price momentum after the price rose above 8/21 day EMA, a well-respected MA indicator for short-term trading.
Given those bearishness of the overall market, price may retreat again Hence, the importance of a trailing stoploss.
The bottom chart on the weekly timeframe indicates that a continuation uptrend occurred after the price rose above 10/30 week MA. This uptrend augers well with Stan Weinstein’s Stage 2.
The top chart on the daily timeframe, on the other hand, shows a strengthening price momentum after the price rose above 8/21 day EMA, a well-respected MA indicator for short-term trading.
Given those bearishness of the overall market, price may retreat again Hence, the importance of a trailing stoploss.