Here's why close above 20 MA is key. The good news is that price recently did not closed below 20 MA. Here's how I worked out price right now above 20 MA is still key to possible big move up. Using my custom MACD
(6, 13, close, 31), only interested in dark green in the histogram. Here's the magic key. You need to mark all the first days when the bleu MACD
rises from a trough (don't include days when blue MACD
turns positive). From those first days up it's vital that price does not close below 20 MA. That's when I added in the light blue background squares to mark out Price x Time = Volume
covered before price dropped below the 20 MA again. The stats and strategies possible are worth a look. Then again not sure if the size of sample in my study was good enough to make findings relevant. So I'm a bear for now because based on my earlier studies 20 MA was broken, but because price closed above 20 MA if it continues to hold we are still in a potential upside opportunity. Not Advice. DYOR.