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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