Hi All, I am still very new to reading charts and was just hoping for a little feedback (and patience lol)
I am looking at the Bollinger bands and RSI on SFR. The closing price has finished outside the down band and the RSI is around 32-33. Am I correct in saying that generally when a price finishes outside one of the bands that it indicates a continuance of that trend?
If this is correct then can I also assume that the price will continue down a bit more and a good indicator to buy is when the RSI is around or below 20?
Again, please accept my apologies if I am not correct as I am still trying to get my head around these charts!!!
Any feedback on this would be great.
Thanks
help with reading charts
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Last
$10.77 |
Change
0.020(0.19%) |
Mkt cap ! $4.926B | |||
| Open | High | Low | Value | Volume |
| $10.51 | $10.77 | $10.41 | $25.33M | 2.384M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 200 | $10.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.77 | 11524 | 6 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| SFR (ASX) Chart |