The break above the 200 SMA is hopeful for bulls, but it was not on high volume. My simple position trading strategy has not indicated to re-enter, it looks for both a cross of the 200 SMA and a cross on the MACD. The former has happened but the MACD crossed on the 12th and has stayed above since. It uses conservative values to avoid entering into bear market rallies. Trend reversal to the upside could be real, but the probability of a sucker's rally is greater.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.