MindsForge

Monthly chart RSI needs a rest

NYSE:LMT   LOCKHEED MARTIN CORP
85 3 0
RSI has made a move back down from the bullish/overbought area.

I've marked out an orange line on the RSI 52, which seems to act as the support/resistance for bull/bearish trends.

Looking at history we see the RSI crossdown of 70 brings a few bearish months, however it looks like we're bouncing off 70 this time, so there may be a little more bull left before we take a breather... but I believing we're going to have some bearish months up ahead.
Can you remember to point out when it does trigger a sell signal? Thanks! And then how much would you risk if you go short on that signal? And target how low?
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MindsForge timwest
I am trying to use the long/short position tool on charts that I trade/would be comfortable trading, this was mainly for a friend who was looking to get into LMT long, but I felt like he should maybe wait on that idea.

If someone were interested in going short on that signal (monthly 70 crossdown) I would then switch to an hourly/daily chart and do an analysis and setup the reward/risk short position... I don't know if selling shares short on a chart with a monthly resolution is a good idea with the fees associated with it... but I've never done it so maybe it is feasible?

Thanks for the comment
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MindsForge timwest
Agh, I just noticed the callout bubble in the RSI frame is overlapping the most recent bit of the chart, I zoomed out a bit before posting, if you press + to zoom in it points out the "look to short/sell" signal.
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