I have been reading up about the Rate of Change momentum indicator. The chart below shows BHP weekly and the indicator since Jan 2006 to now. I have quoted from the book I am reading which I have referenced. It certainly looks interesting. Indicators should be used in conjunction with other indicators. An expansion in volume would add to the signal strength....A mega-overbought usually results in higher prices but in most instances after some sideways movement.... not straight away. and of course there is always the possibilty they can go down
I have been reading up about the Rate of Change momentum...
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Last
$42.70 |
Change
-0.380(0.88%) |
Mkt cap ! $216.5B | |||
| Open | High | Low | Value | Volume |
| $42.91 | $43.15 | $42.66 | $398.1M | 9.282M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 16374 | $42.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.73 | 600 | 1 |
View Market Depth
| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |