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MNB Chart, page-420

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    lightbulb Created with Sketch. 4192
    Here is a great example of why you can't always worry about chart indicators and resistance levels.
    After consolidating for a week between 16 and 17.5, SYA has reached an overbought level on its RSI today and it did it while retesting the previous high of 20c and previous closing high of 19c. Despite that overbought indicator of the RSI, it has broken through the previous high. I wonder how many sold at that level expecting a pull back? It's now at 21.5. It will be interesting to see how much higher it might go in coming days even with that RSI at 80.
    I'm hoping MNB can do the same when it reaches 21c - just keep going without a pull back. Might depend on news.

    https://hotcopper.com.au/data/attachments/4197/4197703-f3b8350ec8d7ff14cff1723b193ef0d1.jpg

    Last edited by chuk: 23/03/22
 
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