This was a great trade, going back for some post mortem as there is a lot to be learned.
- started with insider buys
- shipping storage narrative all over
- search volume peaks, reddit wallstreet bets as the FOMO gets started
- NAT CEO on CNBC pumping
- love looking back on those gaps up each day, pure FOMO on a chart
but my favourite part of this whole chart...
I love this chart, it's very hard to buy anything after it's had an almost 40% down trade but that's the way bottoms feel; very hard to buy.
Obviously it might still keep plumeting down but watch the RSI, the divergence at the moment is the first sign for a short term reversal in sentiment or market realising it just had a massive overreaction.
Either way the...
just trying to get some perspective in regards to finding a bottom - just how deep will this correction / crash run?
Such a great time to be witnessing the market, my gut feeling is we still have a long ways down yet - what do you think?
check the daily and all are testing their lower bollinger bands. For all of them there is very minor RSI bullish divergence too, just not super clear - it might not be there quite yet.
Does this signal a trend reversal? I'm not sure, you would think so, but with RSI divergence it can often appear to be ready but still grind lower with even...
After earnings breakout SMSI has returned to the gap with a nice double bottom and just about touching the 200 DMA.
Checkout the declining volume on the monthly which is a great boredom signal, hopefully this beast is now gearing up for round 2 with some sustainable earnings. If so the market will realise the move was real and turn into a superstock.
The title says it all. Looking for a short term reversal here, based on being oversold with divergence as well as at the top of the bolinger band.
Divergence could be more pronounced and still has the risk of being early but looks like a decent setup.
Looking at the previous instances in the last 6 months that RSI has been this overbought, everytime it has immediately had a sharp dip.
One concerning factor is the delay how it has consolidated now for a few semi-tight closes but the R/R ratio 4/1 compensates for that.
Price target 1 if it reversed would be the point of control, although another more ambitious...
Again looking at RSI divergence coupled with OBV to predict short term reversals for earnings breakout superstocks.
The ideal sell point was marked with bearish RSI divergence and the OBV started to trend down.
The next reversal or maximum point of discomfort was after the retest of RSI being very oversold in conjunction with the price touching the 200 DMA.
Just looking back at a stock for a hindsight view on picking the best buy and sell times.
Note the OBV matches very well with the RSI, the short term trend reversal is confirmed with RSI bearish divergence and the retest of on the OBV downtrend line.