ELF On average, technical analysts often observe that when a stock crosses above both the 9-day and 21-day moving averages, there is approximately a 60-70% chance that the upward trend will continue. Conversely, when a stock crosses below both averages, there is about a 60-70% chance that the downward trend will persist.Here are some general figures:
Bullish Continuation: 65% probability that the stock will continue an upward trend after crossing above both the 9-day and 21-day moving averages.
Bearish Continuation: 65% probability that the stock will continue a downward trend after crossing below both the 9-day and 21-day moving averages.
These figures are generalized estimates based on typical market behavior and may vary depending on specific stock characteristics and broader market conditions. Always consider conducting specific #backtesting and analysis for the particular stock or market you're interested in for more accurate predictions.
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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.