Just a quick observation on a couple of oscillating indicators in the daily chart with a potential entry point:
Stochastic
%K dipped below 20 (oversold) earlier this week and is rising back up now.
%K has just crossed over above %D (buy momentum)
MACD
MACD line appears to have hit a trough and looks to be bouncing back up towards a potential crossover above the 9-day EMA Signal line (buy momentum)
Provided the MACD crossover occurs during the next trading day (ideally within 1-3 days after a stochastic crossover), we will have a 'bullish' trend confirmation and a strong buy signal to enter based on a Stochastic MACD Double Cross strategy.
NOV Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
Provided the MACD crossover occurs during the next trading day (ideally within 1-3 days after a stochastic crossover), we will have a 'bullish' trend confirmation and a strong buy signal to enter based on a Stochastic MACD Double Cross strategy.
