My timing was off on CIG when I bought as the Brazil stocks fell off a cliff. Through my tier buying and the Brazil stocks making a rebound I am up and looking to take some profits in the near term.
I had held CIG longer than I expected but through some tier trading I finally made a exit with a decent profit.
Ive never been big on TA, most of my plays have been longer holds based on under valued stocks or FA plays... but to me that looks like the 50 MA is about to cross over the 200 MA soon. Wouldn't that be indicative of a move to the downside soon, maybe next few trading days? Just curious as to what you may think will happen with this one?
Yes, if the 50MA were to crossover the 200MA, that would TYPICALLY be a bearish signal. I'm not quite sure where this is headed, as this is not one of my "usual trading patterns", but saw the chart and thought somebody might like to see how it's being pinched between the two. In the REAL short term, I'd guess (if I absolutely had to) that whichever one it breaks through and closes, it will find a nice little run to that side for at least a few days.
