"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
$19.49 |
Change
0.320(1.67%) |
Mkt cap ! $60.00B | |||
| Open | High | Low | Value | Volume |
| $19.06 | $19.51 | $18.92 | $114.2M | 5.891M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $19.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.50 | 5200 | 4 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |