Bullish divergence between daily closes and RSI
Focus on RSI, which is very revealing, and daily closing prices. See two green lines on chart. Also around 90-91 is monthly support. This stock could drop to 87-90 range, but a move up - even if temporary - is coming when stochastic and RSI start turning up.
See hourly and monthly charts as well.
Use less capital. Hold overnight for best gains. Use trendlines on your charts. Be willing to take losses on calls and switch into puts if more downside ensues.
See hourly and monthly charts as well.
Use less capital. Hold overnight for best gains. Use trendlines on your charts. Be willing to take losses on calls and switch into puts if more downside ensues.
Note
Despite the strong divergence the hourly chart is still showing a strong downtrend. My aim in trading options is to buy calls and puts that will gain in value so I can sell them for a profit. That said, I am willing to buy calls but I will be very choosy, and I decide in advance how much I will lose or when I exit the trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.