Originally Posted by
Nasi Goreng
Blobbles chart shows that the share price is rising and the 50 day moving average has cut through the 200 day exponential moving average.
When the 50 day cuts through the 200 day to the upside, its known as the golden cross which is a bullish sign. Typically, anyone who is short would be getting pretty worried at this point and would be covering their position.
Its interesting that blobbles has used the exponential 200 day moving avg rather than 200 day simple moving avg if his intention was to show the golden cross. Either way, from a chart point of view, its looking good.
What you can't see in the chart is that there is a potential take over occurring or capital raising so this could easily swing 20% in either direction based on the news that comes out in the coming weeks. I wouldn't use the chart to guide my investment decision right now.