DISQUS

Downtowntrader: Reader request: Stock Chart S

  • Bob · 6 months ago
    Great analysis Joey. If you look a few months back you can see the MACD made a set of higher highs that looked bullish but recently made a bearish divergence. The 10 day ADX is below 20 as well... so I think it'd be a mistake trying to go long on S if you're trying to ride the up trend it's had the last few months.

    -Bob
  • downtowntrader · 6 months ago
    Yeah, I can't disagree. I think this analysis has more bearing for someone already in the stock. I personally prefer to buy close to a base and not after such a long run. I also don't short patterns like this for anything more than an intraday scalp.

    Joey