Chz update
Chiles (CHZ) broke through the 20-day moving average ($0.20) on September 9, the first sign that a correction phase may be coming to an end.
The bears pushed the price below the 20-day moving average on September 10, but the bulls held their ground. They are trying to push the price towards resistance at $0.26, but a move may face strong opposition conditions near $0.23.
If the price drops below the moving average of the 20-day view, the probability of a price increase increases to $0.26. Contrary to the assumption below, if the price breaks down to $0.20, it indicates that the bears are at a higher level that could push the price to the 50-day SMA ($0.18).
The bears pushed the price below the 20-day moving average on September 10, but the bulls held their ground. They are trying to push the price towards resistance at $0.26, but a move may face strong opposition conditions near $0.23.
If the price drops below the moving average of the 20-day view, the probability of a price increase increases to $0.26. Contrary to the assumption below, if the price breaks down to $0.20, it indicates that the bears are at a higher level that could push the price to the 50-day SMA ($0.18).
Disclaimer
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.