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dfl

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05/04/25

14:11

Post #: 78567643
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Originally posted by Quirkus: ↑

Hey DFL , I imagine you've taken a look at the MACD again on the Hourly.
This is why in my view, market indicators showing Oversold, can always 'Oversell some more'.. I see it so often.
And I generally get 'howled down' when I mention it.

I don't find (for me) the indicator is that reliable (on it's own of course, perhaps if taken with a few other indicators it might increase outcome)
Or maybe it's a 'tad' more reliable if looking at Divergences, but I can rarely use it.

Sure , the market at the moment is more volatile than usual, but I don't think it matters that much.

If you're looking at longer term, and in conjunction with other indicators, it's probably fine, but I tend to look at short medium term.

eg.

The MACD 'Buy' signal at $31.90 ish you mentioned.

24 hours ? later, $29.56..
The 'Oversold' buy signal has just Oversold a whole lot more. this is very common.

Anyway, I hope this gives the Bankstas a little chance to reduce their shorts once and for all!

Expand

Shell shocked like everyone. The 4 hourly MACD is the most oversold I have able to track down, you’re right, they work in normal markets but this is hardly that.
From an EW perspective this what I was expecting earlier in the year to complete the correction.
I did feel that buying, probably short covering was coming into the market in the last hour.

IVR Price at posting: 2.2¢ Sentiment: Buy Disclosure: Held
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Last 3.1¢		Change 0.000(0.00%)		Mkt cap ! $49.27M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

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1	30000	4.0¢

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1	180000	0.032
5	499687	0.031

Price($)	Vol.	No.
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