Earnings are 8-17 after market close. Long entry is not usually ideal at overbought levels but we are all different.
SNPS broke the neckline a while back. New ATH 381.70
I suppose the chips bill has energized the semiconductor stocks. On monthly this looks really steep.
This has been overbought for a while with RSI on 80 versus 70. Overbought and oversold conditions can linger for some time, but it does get my attention.
Typical RSI settings are 70 for overbought and 30 for oversold levels.
Price is over the bands set on an 80 DMA which is also an overbought signal.
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.
This will most likely pull back a bit before earnings.
No recommendation
SNPS broke the neckline a while back. New ATH 381.70
I suppose the chips bill has energized the semiconductor stocks. On monthly this looks really steep.
This has been overbought for a while with RSI on 80 versus 70. Overbought and oversold conditions can linger for some time, but it does get my attention.
Typical RSI settings are 70 for overbought and 30 for oversold levels.
Price is over the bands set on an 80 DMA which is also an overbought signal.
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.
This will most likely pull back a bit before earnings.
No recommendation