Market Talk – April 26, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 increased 306.28 points or 0.81% to 37,934.76 Shanghai increased 35.74 points or 1.17% to 3,088.64 Hang [...]
Moving Averages and Stochastic – Not Trading Tools but Good Confirming Tools
QUESTION: Mr. Armstrong; What is your view of moving averages? Can they really be used for trading?
Thank you
KL
ANSWER: No. Moving averages and stochastics are nice confirming tools. They are incapable of forecasting a high or low. They also do not reflect magnitude of a move. They can be a useful confirming tool, but nothing to actually enter a trade on that is consistent.
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