A significant number of companies have price action over the last month that causes the price to meet with the 12 day and 26 day EMA's. I conclude that investors have been buying if the price is lower than the averages and selling if the price is higher than the averages. It is not uncommon for investors to behave this way when other data is lacking. It is interesting to also notice that Credit Bank has brought its price, 12 day EMA, 26 day EMA, and 200 day EMA all to the same point. I wonder if the rest of the high trading volume companies will follow the same path bringing their 12, 26, and 200 day EMA's to the same point.
Bank of Baghdad
A Lot of non-Banks are following the same process.