I have been following this stock for a long time and have made great returns with it. The pattern scheme between the chart and the RSI
can be used to predict an upcoming downtrend in the price of RMBS
. Once the RSI
exceeds 75 the chart bounces as the RSI
levels out. This leveling out process takes about 20 bars (1 D) and then drops again. The MACD
is also showing bearish
signs. Any feedback or suggestions would be greatly appreciated!
Many of the drawings were done prior to movement in the chart. For example, my prediction of the "Stop Fall" in green was done prior to the chart actually stopping at the line.