I posted on May 14 that STX PO in Singapore Stock Market Picks rebounded from 20d MA and look to continue its uptrend because high lower and higher high. Indeed, it gap up today and break the most recent high.
This is a key learning to note because I simply used a 20d MA to scan the market for any rebound. 20d MA has been widely used by many technical analysts while analysing the stock market. As we know TA is based on self fulling prophecy. We do not need to use a complicated indicator to analyse the market, sometimes, the simplest technique works the best.
As I am also learning and I am interested to know how well the 20d MA can withstand the market volatility, I will continue to scan and do some picks using the 20d MA, let’s see the probability of success 1 month later. I will do some stats based on my picks.
DISCLAIMER: This information does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
