Everything on a weekly chart is stronger than a daily chart. Everything on a daily chart is stronger than an hourly chart, etc.
Stretched away from either moving average shows potential for a pullback. Stretched away from weekly moving averages can produce bigger % pullbacks, typically than what’s typical for being stretched from a 200-day moving average.
When stretched below a moving average, there tends to be an eventual snapback to the average AS LONG AS the asset is fundamentally solid and fundamentally cheap. If its fundamental crap, it never has to snapback and can just go to zero.
Moving averages, as far as trend detection, are lagging indicators. So, much of the time, you’ll only know you’re in an uptrend when in waves 3 and 5. The reason why I like Elliott Waves even better is because they more accurately define trends and show things MUCH quicker than moving averages do.