AJX 0.00% 1.0¢ alexium international group limited

TA discussion, page-6268

  1. 588 Posts.
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    One thing I have noticed lately is that there is an increase is the number of times AJX closes in the top half of the days trading range. A down trend is characterized by almost always closing at or near the bottom of the days range - so a positive change there.

    Also I have pivot points on my charts set for weekly (they can also be set for daily, hourly etc - mainly only used by professional day traders) The point is the bullish/ bearish pivot point for last week was 27c. The fact that we spent the entire week in the bullish range (above 27c) is a significant positive sign.

    A lot of people are familiar with the RSI indicator and most charting packages have the default set to 14 but I also use RSI5 as a short term indicator - it went from heavily oversold on the 9th of march to just overbought on the 19th and is now just above neutral. But give a positive vibe to the chart.

    Obviously nothing here guarantees an up trend is building, but is certainly a little more hopeful than I have seen in a while.

    JFYI
 
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