Peet_Serfontein

AIL: share with the most bullish divergence

Long
JSE:AIL   AFRICAN RAINBOW CAP INV
Using the RSI to calculate bullish/bearish divergence conditions over multiple time frames (daily, weekly, monthly).
Divergence period used is 8 periods (Fibonacci number).
Divergence is when the price is making lower lows, while the indicator (RSI) is making higher lows.
Indicates underlying strength. Bears are exhausted. Warning of a possible trend direction change from downward to upward.

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