Distance to 50 MA relevant on setups ?

Hi Pat, I have a brief question about distance to 50 MA on set-ups. If it is relevant. Example on 02/19 I wanted to place an entry order on $PERI. If I look over a period of 9 months at the chart, it keeps bouncing off the 50 MA from time to time. Is this setup too risky as it is already extended quite a bit from the 50MA ? As always grateful for your insights and feedback. Regards, TJ