"look at the RSI, its at 2 year lows, way oversold,
last time RSI was that low in a valley the SP doubled from there!"
Well that statement is simply not correct - yes RSI is oversold and the bounce is on and yes this time it could be the bottom but it could just as easily be another DCB like it was a month ago when in fact RSI was even lower than it was this time.
And I use EMA,s on my charts not SMA. - The 5 minute chart I posted this morning hasn't generated a sell so the day traders would still be holding that trade entry from this mornings buy signal
Cheers h00t
FMG Technical Analysis, page-7279
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Last
$20.82 |
Change
0.720(3.58%) |
Mkt cap ! $64.35B | |||
| Open | High | Low | Value | Volume |
| $21.26 | $21.59 | $20.60 | $186.8M | 8.904M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 2212 | $20.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.83 | 1718 | 13 |
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| Last trade - 13.08pm 30/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |