Long entry is the prior resistance of the rectangle which is now support, 93.17 and an uptrend. Mid rectangle can make a good stop..
It seems online shopping is here to stay..this is somewhat leveraged meaning it is Long Online/Short Stores ETF..
I placed 2 different RSI indicators on the chart. The first one is with RSI on traditional settings, the other is with it changed to 80 and 20 vs traditional 70 and 30..
I have found a stock can remain overbought for a long time, especially in the current market. Some stocks become overbought, only to pull just under my levels without pulling back much at all, then vacillate between overbought and just below overbought conditions for quite a while. These seem to be the very strong stocks in the market right now. Others makea move up, become overbought, and go crashing down again. In the real world it is optimal to buy when a stock is oversold, or below 30 (20 on my settings but not recommending that) but is difficult to do these days with a strong stock. Not saying that is a good thing, and it probably is not a good thing, it just seems that is the way the market is as of late.
Developed by J. Welles Wilder, the Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. According to Wilder, RSI is considered overbought when above 70 and oversold when below 30. Signals can also be generated by looking for divergences, failure swings and centerline crossovers. RSI can also be used to identify the general trend.
Overbought is a term used when a security is believed to be trading at a level above its intrinsic or fair value. Overbought generally describes recent or short-term movement in the price of the security, and reflects an expectation that the market will correct the price in the near future. The opposite of overbought is oversold, where a security is thought to be trading below its intrinsic value. Ultimately it is a subjective term, but it is something I pay attention to. Bollinger bands are wonderful too and they can tell you so much, you almost do not need anything else! One of the first books I ever read was by John Bollinger on bollinger bands. BB differ from Keltner channels as they are not static
There are a zillion indicators out there and it can be overwhelming! We are all different. What do you use?
Not a recommendation
Solactive-Proshares Bricks And Mortar Retail Store Index Swap Credit Suisse
46.01%
Amazon.com Inc
23.41%
Alibaba Group Holding Ltd ADR
10.33%
Etsy Inc
5.04%
Chewy Inc
4.98%
Wayfair Inc Class A
4.55%
Stamps.com Inc
4.54%
GrubHub Inc
4.41%
eBay Inc
4.31%
Qurate Retail Inc Class A
3.97%
It seems online shopping is here to stay..this is somewhat leveraged meaning it is Long Online/Short Stores ETF..
I placed 2 different RSI indicators on the chart. The first one is with RSI on traditional settings, the other is with it changed to 80 and 20 vs traditional 70 and 30..
I have found a stock can remain overbought for a long time, especially in the current market. Some stocks become overbought, only to pull just under my levels without pulling back much at all, then vacillate between overbought and just below overbought conditions for quite a while. These seem to be the very strong stocks in the market right now. Others makea move up, become overbought, and go crashing down again. In the real world it is optimal to buy when a stock is oversold, or below 30 (20 on my settings but not recommending that) but is difficult to do these days with a strong stock. Not saying that is a good thing, and it probably is not a good thing, it just seems that is the way the market is as of late.
Developed by J. Welles Wilder, the Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. According to Wilder, RSI is considered overbought when above 70 and oversold when below 30. Signals can also be generated by looking for divergences, failure swings and centerline crossovers. RSI can also be used to identify the general trend.
Overbought is a term used when a security is believed to be trading at a level above its intrinsic or fair value. Overbought generally describes recent or short-term movement in the price of the security, and reflects an expectation that the market will correct the price in the near future. The opposite of overbought is oversold, where a security is thought to be trading below its intrinsic value. Ultimately it is a subjective term, but it is something I pay attention to. Bollinger bands are wonderful too and they can tell you so much, you almost do not need anything else! One of the first books I ever read was by John Bollinger on bollinger bands. BB differ from Keltner channels as they are not static
There are a zillion indicators out there and it can be overwhelming! We are all different. What do you use?
Not a recommendation
Solactive-Proshares Bricks And Mortar Retail Store Index Swap Credit Suisse
46.01%
Amazon.com Inc
23.41%
Alibaba Group Holding Ltd ADR
10.33%
Etsy Inc
5.04%
Chewy Inc
4.98%
Wayfair Inc Class A
4.55%
Stamps.com Inc
4.54%
GrubHub Inc
4.41%
eBay Inc
4.31%
Qurate Retail Inc Class A
3.97%