A little more clarity....Maybe?
Remember I said yesterday that this stock has had the habit of moving up when the RSI was in the neutral area (50 ish) since it entered the current channel? Well another member of the ACB community commented and said he had found a new channel and thought that we may in fact be trending sideways for now. In any case It dawned on me to look at some other oscillators since they are such good indicators in a sideways market, and I noticed that the Stoch RSI is almost on the floor. This screams "do not panic sell" (It may even be whispering "averge back in"). We really should be close to becoming oversold since this is a little bit more sensitive than the Relative Strength Index, and could be the answer to the question as to why we tend to move up around neutral on the RSI in this current channel. Any thoughts?
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