As per Stan-Weinstein's book The Secretes for Profiting in Bull and Bear Markets, 200-day Mansfield relative strength index is an important indicator to determine the stage of a stock. The basic calculation is using the close price of the subject stock and close of a benchmark index using the following formulae:
a - subject stock
b - benchmark index
SMA (x, p)...
WPPGY started topping out (Stage 3) about a year ago. While retesting support around 98 the consecutive rallies didn't have enough buying power to reach the previous one respectively. During the same time the 150d SMA started turning down. Beginning of october we saw a breakdown through the previous support level with two big volume days. After a rather big move,...