hey mate, here is the SOX used as an input with a relative strength indicator. It's useful to view the stock you want to watch against whatever index you choose. Out performance strength is the blue shaded areas above the red line, which is a moving average. Purple being under performance.
Personally I don't see much correlation - wbt has moved independently with some wild deviations. Right now it is severely under performing for reasons I could only guess (the sum total of market makers, global economics, lack of risk appetite for speculative bets etc).
Relative Strength indicator against the XAO generated a weekly signal (new price high + rs high) on 12/12/2022.
The signal combined with some price action theory is a good enough strategy one could use to catch some huge moves. You need to watch a big universe of stocks but screening can help manage this.
Charts, page-4911
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 (20min delay)
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Last
$2.23 |
Change
-0.070(3.04%) |
Mkt cap ! $420.9M | |||
| Open | High | Low | Value | Volume |
| $2.30 | $2.30 | $2.23 | $1.023M | 452.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 29589 | $2.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.26 | 3896 | 1 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$2.24 |
Change
-0.070 ( 2.63 %) |
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| Open | High | Low | Volume | ||
| $2.30 | $2.30 | $2.23 | 114058 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| WBT (ASX) Chart |