breakout of the upper trend line ... is not necessary a good thing ... we saw it in TG .... no?

this one... multiple flagpole breakouts...

very nice ... but you might have to be a bit cautious with the declining volume....

Volume analysis can be pretty much subjective, which is why my choice of words was to be 'a little cautious' with the declining volume.

My first interpretation of that said stock was the stock is hitting its highs but yet the volume is lower. Search the net on new high on lower volume.



Perhaps this is a easier view...



Price action for me can be pretty much subjective. Each side of the bull/bear camp will always look for the tiniest info, and if they have they will dissect every possible info from the chart.

The cautious or bear side would say 'demand' or the appetite for the stock is clearly declining as the stock hits the new highs...see the last 4 trading day data in the above table.. and as such a correction could be due soon.

The opportunist or bull side will say that it is okay and normal because as stock hits new highs its natural to see some cautious trade. No worries. Volume will pick up again as the stock higher highs.


... going up on huge volume is actually good as it suggests the higher demand for stock has resulted in higher volumes...

Higher volume and the stock doesn't move... is a no no.

There are tons/volumes of info on the net.

Forgot to say this....

Volume should not be your main/sole reason to buy/sell your stock...

If you equate volume as demand, perhaps it will be slightly more understandable.

Yeah, very often you would hear general commentary that we don't really brain. Dont worry.. it happens.

Google how to calculate rsi.. answer is there

Did you manage to find your answer on the net?

You did not google..... the right phrase .....



If you look at the formula... it doesn't mention Volume at all.....

therefore .....


it can gets really messy with the indicators....
cos sometimes, when rsi points overbought...
it just means its over bought and it doesn't mean the stock will correct there and then.....

same with oversold....
and there are situations where the oversold stock can remain oversold at a longggg time.

Lastly, the RSI setting can be adjusted ....
.... best you don't touch it until you are fully comfortable with the default setting first....

after that go search 'fast rsi setting' ....

this one ... good read => https://tradingsim.com/blog/relative-strength-index/

That is correct !

Me? I lose far too many times than I win...

You got see meh?

Looks like 3 white soldiers but it isn't...



First candle is way too long...

Too big la

This post has been edited by Boon3: Aug 21 2020, 07:23 PM

LOL....

Have a good weekend dude

At this moment, for me, at this moment, things are looking okay. The stock should easily retest it's previous high. No problem.

But how it does it.... aha.... keep an eye on the volume. As you are aware those 3 candles is built on declining volume...
322m < 261m < 180m .....

the declining volume indicates a waning interest...
where are the buyers?
doesn't it believe TG can go higher and higher?



once again... keep an eye on the NOS issue....

recap... ppl tell you the glory story of how Repco Holdings was fried from 5 bucks to 140 bucks ...
but no one will tell you...
it was relatively easy...
with a NOS of only 14.2 million, the free float then must have been extremely small....

and guess what? Ever wonder how many shares is there in TSLA?

aye to that ....

No wo....

Must be losing my touch....

Ya lo...

Back to TG.....

There's basically nothing 'new' and this I have to say is all due to our lack of quality in the scientists. It's overdone. Giving new TP based on profit revision every couple of weeks early on will have its consequences, in which they set the bar way too high that whatever profit the glove makers will not make/cause any new surprises.. what's the latest profit estimate? It was 800m early on and they just went up and up... now 1.1 billion for q4? I lost count already

It's so high that it's not gonna seduce ppl like me unless it's 20% above their estimates... err... which is gonna reach 2 billion at the rate the estimates keep revising.

Yup... so for me... unless the numbers come in really big and force these already over optimistic scientist to drop their glasses.. TG next QR will be a non price boosting factor.... which is utterly stupid if TG reports a billion in profit for the quarter and these jokers say oh, no big deal, we were expecting much more...

and if the profits don't dazzle how these jokers gonna create higher earnings numbers?

.... and as it is... the 2022 numbers are not even indicating booming numbers....

just some few sen for you to ponder.. M

Ps.. Ironically.. there's nothing really new in my morning ramblings...

So all eyes on the QR...

In a small pond... 2 is enough la

This post has been edited by Boon3: Aug 23 2020, 12:33 PM

YES... that is so true... sentiments is important.

However, take a step back... dont we need to ask what's causing the bullish sentiments?

Isn't the fact that glove makers are making obscene amount of money?

And with it... comes the higher and higher target prices set by these scientists?

So for TG... for the stock to push say 35 or 40 levels.. wouldn't it require a brand new catalyst to give the stock the oomph?

For me... it's simple. A big, big number is required from TG.

This is what will create an insane bullish market sentiment and push it to beyond 50 bucks... yup, show me 2 billion profit for Q4.