With This Stock. I purchased as RSI was looking to be close to overbought. Likely too aggressive a trade without confirmation. There have been several doji candles since with not much movement.
DOes anyone have any thoughts or experience with what this might mean for upcoming price action up or down. 50/50 up down or more 70%/ 30% up down.
Thanks if you have some technical experience.
ความคิดเห็น
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Sory - I also purchased as looking left, we were at an area of support. So there were a couple of things in the trade.
Fundamentals are revenue is growing annually which probabilistically helps support an uptrend.
MACD has turned, bounching off support, short term GMMAs converging. Looks good to me. If it can break 34.8, i'm targeting 37.5 & 43ish
StrawberryMan2
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@chrismojay, Hey Chris, How are you setting targets. Is that based on a fib extension.
chrismojay
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@StrawberryMan2, Sorry, missed that you replied. I just use GMMA and keep track of the long term trends. MACD for the short trend. OBV and a 50d SMA on volume to consider volume build up. Occasionally I'll use RSI and SAR to see if the stock is pivoting. I try to keep it basic.
On rare occasional i'll play around with pivot reversals, wavetrend and supertrend. But I dont find that they have a good read on stocks.
Apply a GMMA and zoom out on the daily for a few years. It really holds up well as a good trend indicator with PME.
chrismojay
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@StrawberryMan2, Also with targets. around 44ish if the complex head and shoulders plays out. I dont usually use fib extensions, I usually use measured patterns or I just ride a trend with either a tight or loose stop and let the market take me out.