Relative Strength Index (RSI) is a momentum indicator. It shows overbought and oversold condition of a security or a index. Its interpretation is: 40 (oversold) and 60 (overbought) . In above weekly chart of Union Bank of India, you can see at encircled point it was in oversold zone in June 2022 and then it moved up. Presently, it is at 40 oversold zone and most...
USDT.D has formed a bullish pennant pattern, and the daily RSI is in the overbought area. At the same time, the weekly RSI trendline has been rejected. This indicates a likely decline for USDT.D, giving the crypto market a chance to move upwards—a bullish sign for BTC and crypto. 🚀📈
#USDT.D #Crypto #CryptoMarket #BullishPennant #RSI #Overbought #MarketAnalysis...
On Week Chart
I found the same condition in the past when BTC's downed
- RSI Overbought
- ADX move up to 84, I marked the yellow line at 84 you can see on the chart
- BTC Dom has rejected at 55%
So I think BTC will pullback soon and $50K can be a support
Time will tell
TOTAL 3 in overbought territory and also formed bearish shark pattern. So we can expect correction from this point which gives one more chance to buy altcoins again.
jeera is seemingly In overbought zones and a retracement toward the 42000-40000 zone likely
rsi extremely overheated at current zones
after that fresh upmove can take place
a trading wise bearish move below 45k
Sell > 247 to 251
easy tg - 235
Highly overbought, no more upper circuits.
Likely to consolidate from here.
One can sell call spread,
sell 250 CE cmp 6.6 and buy 260 CE cmp 3.8
You can eat premium of 3.8.
For all the basic stuff that I am using in this post, you will have to visit the following idea. This post is in continuation of SBI weekly divergence study..
Abbv. used:
Overbought -- OB
Oversold -- OS
Divergence -- Div
A-- OB
B-- Div after OB at A
C-- Double top and Div
Multi week correction back to support
D-- OS at support and very sharp rally due to...
based on over bot concept
looking for profit booking from here
rsi - 84 + = overbot
lower volume candles
note - risk based view
since there is still somewhere momentum towards bullish side
disclaimer - trade @ own risk
The stock is on a long term down trend.
The trendline is acting as a resistance and has been tested multiple times.
Rejection from the trendline this time also.
RSI is in overbought zone.
The stock has rallied almost 33% in the last 2 months, there needs to be a correction or consolidation phase. One needs to be cautious not to enter long at this point as technical indicators suggest a short set up.
1. RSI negative divergence - The price is increasing at a very fast pace but the strength index is not following the path as indicated in the chart....
Amber enterprises showed a breakout yesterday and many buyers entered here because of the breakout
But do you know it's a false breakout?
lines reference:
dark blue-resistances
cyan blue-supports
yellow-both acting as support and resistance.
Guys please first like and comment...
DIXON has run up from 2990 to 6666 i.e. 123% in merely 4 months.
So there is no denial in the power this stock has to run further. Targets and time frame cannot be predetermined so the best thing to do in such a situation is buy in SIP and always ride the stock with a trailing Stop Loss.
I see a buying opportunity between 6150 and 6300. However if the price...
Prices are consolidating, the momentum is not picking up. Any failure to push above the current levels will render the stock into a correction which may push it towards the next support zone at 320 levels.
