I'm just started to look into this stock today and look to start a position by the end of the week after the meeting. I know what a golden cross is, but is it just be or I just don't see it on the chart. the 200 is above 2.2 and 50 is around 1.5. The price is above the 50 so thats bullish, if someone could explain what they see, it'll be great.
For those who don't know what a Golden cross is....
A crossover involving a security's short-term moving average (such as 15-day moving average) breaking above its long-term moving average (such as 50-day moving average) or resistance level.
As long-term indicators carry more weight, the Golden Cross indicates a bull market on the horizon and is reinforced by high trading volumes. Additionally, the long-term moving average becomes the new support level in the rising market.
Was there a leak of good news pending? It makes you wonder what is causing this price move with the volume increase.