Hi
@slick - thanks for going into to bat for me with the Kool aide mob . Cult stocks are fascinating to follow it always amazes me how retail punters try to blame hot copper posters with a negative opinion and short sellers for a companies management failures. I only comment on stocks I never resort to personal attacks.
Back to IMU - The other day someone asked about what time scale charts they should concentrate on because as they rightly said the daily chart will always give delayed entry and exit signals when compared to 5m. 10m , 15m 30m or 60 minute time scale charts.
I posted a daily chart showing extreme oversold RSI that coincided with the old breakaway gap that was a good place to look for bargain hunters to enter and for a possible bottom to be put in.
I also posted a 30 minute chart that confirmed a buy entry that coincided with the RSI spiking back up on the daily chart. The shorter time scale charts - 5 min and 10 min gave earlier entry signals.
Now to your question is the bottom in ? the last two candles appear to be day traders profit taking as all the short time scale charts have indicated sell signals , as mentioned in my prior post that's the problem with short term charts you are prone to whipsawing when the stock range tightens back up as is happening now.
The 50 / 200 bear cross on the daily still needs to be factored in so clearly you want it to stay above the supports drawn on the chart below.
Cheers h00ts.
Daily
View attachment 612854030 minute chart update
View attachment 6128542
