Lesson: Stop Using RSI, a Supertrend is a Super Trend

 If we were to follow the RSI signals, no one would have profited from this Medtecs spike.

1. The trend is caused by the news.

2. You can still buy if the green Supertrend is at the peak price.

3. RSI show overbought, yet bullish, which has no meaning.

Come to worse, cut loss when the red Supertrend appears.

Source: https://sg.finance.yahoo.com/chart/546.SI



Comments

Post a Comment

Popular posts from this blog

One Or Two Good Stocks - Rookie Trading Journal #220411

Image
"One or two good stocks can make up for lots of losers, and produce superior results.” Peter Lynch What stocks to buy today?    Buy DJIA and S&P500 stocks.  undervalued PEG less than 1.5,  uptrend above 200MA, when going down and about to bounce...   https://finviz.com/screener.ashx?v=111&f=fa_peg_u2,idx_sp500,ta_perf_1wdown,ta_sma20_pb,ta_sma200_pa&ft=4 Or try some undervalued growth stocks... https://finance.yahoo.com/screener/predefined/undervalued_growth_stocks Or what's Trader TV LIVE watching... https://tradertv.live/members-area/ Or try some Meme Stocks... https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment Double confirm for UNDERvaluation here...  https://simplywall.st/dashboard Buy if undervalued more than 30%. Use Yahoo  Supertrend . Wait for the Golden Egg. 🏅 RSI followed by Supertrend rule on 15m chart: Buy, if you get a Buy signal in RSI(7), followed by a Buy signal in Supertrend(5,1.5) with...
Read more

Exploring the Current Trends in the S&P500: Microsoft and Tesla Stand Out

I browsed through Finviz today and noticed that there are only two pages of S&P500 stocks with buy signals. This caught my attention because it means that most of the stocks in the index are performing well. However, I noticed that there are a couple of exceptions to this trend. First, there's Microsoft (MSFT). The stock is currently trading at $226 per share. It's definitely one to keep an eye on. [DONE] Then there's Tesla (TSLA). This stock is trading at $117 per share. It's definitely worth considering as a potential investment. Overall, it seems like the market is doing well, with only a few exceptions. As a rookie investor, it's always important to keep track of the trends and do your own research before making any decisions.  ~ The Rookie Trader Rookie Stock Trading Strategy - Jan 2023  
Read more

Find spiking penny stocks using reverse split strategy

Image
How to find spiking penny stocks using reverse split strategy... Thanks to Humbled Trader ... https://youtu.be/vJ5AgtHNnCY Here's what's I learned... - Small stocks want to stay listed on Nasdaq.  - So they reverse split to reduce their share price.   - They release PR after the reverse split is finished!  - Humbled Trader uses Benzinga pro to screen for recent reverse split stocks that released PR. - Search headline keywords such as "reverse split", "delisting", and "offering".  - There's plenty of money to be made by waking up early.  - Benzinga Pro sends live email alerts whenever the penny stocks Humbled Trader is tracking release a PR headline, files SEC filing, etc. - So Humbled Trader knows what to do when she sees volume trading above average premarket on $VIVE.  - She knows the support to buy the dips and sell at highs near premarket before dilution happens at the opening spike. ~ The rookie trader PS: Is this a reverse stock ...
Read more