Scorpio Bulkers Inc (SALT)

[stockmeister]

Thank you HHHG for the response over on the "Elite Swing Trades" board.

I think I now have a better understanding as to how you're using these indicators. I can see your point on today's volume with regards to the EMA(60). Today's volume is roughly double the EMA(60), which would make it somewhat unique compared to other days. This, along with the long red candle would almost be a sign of capitulation to me. The grossly oversold RSI would also seem to indicate this.

With this chart, there almost seems to be some RSI divergence too. The last time the RSI was this low (roughly January 5th), the stock price was much higher (closed at $1.86). So the price has since made a much lower low with approximately the same RSI level.





I also get your point on the use of the 9/20 moving averages as a possible short-term price ceiling/resistance point to use in a swing trade situation.

Thanks again HHHG for taking the time to respond and share your knowledge. I really appreciate you taking the time to do so, and I've also added you to my list of people that I follow.