Friday, January 08, 2021 7:45:16 PM
It's possible. Given I see the Uptrend is too strong.
I check it as often as possible. Of course when I have time. Since I am long term on Tesla, I do not check often. But with other stocks (like BNGO I got out in the second session as profit was more than doubled) I check more often when I can.
You see the clue comes first (1): from the daily. If the daily turns negative, second (2) will the weekly turn negative? Usually in a strong Uptrend it won't. But the "Market can do anything". We just don't know.
If and when both change into a Downtrend, that can be taken as a signal that things are probably changing... But the clue would come if that remains or lasts another week.
At this time I give 75% probability based on the Uptrend that the Oscillators recycle in a day or two with a minor setback and the Uptrend continues takes the share price higher.
The T/A at this time is not giving a clue of negative because it can be checked with several signs for accumulation, & OBV, and for trend using the SAR. Checking the MACD Histogram bars also shows the short term trend if the successive vertical bars rising or falling in intensity.
Keep in mind that the charts are formed because of developments with the company. Based on it, and its severity, "The Market can do anything".
The market is a consensus through Volume and Price moves and their relationships. Charts just record what's the market dynamic is conveying
and requires one's interpretation.
I hope this helps.
GLTY
I check it as often as possible. Of course when I have time. Since I am long term on Tesla, I do not check often. But with other stocks (like BNGO I got out in the second session as profit was more than doubled) I check more often when I can.
You see the clue comes first (1): from the daily. If the daily turns negative, second (2) will the weekly turn negative? Usually in a strong Uptrend it won't. But the "Market can do anything". We just don't know.
If and when both change into a Downtrend, that can be taken as a signal that things are probably changing... But the clue would come if that remains or lasts another week.
At this time I give 75% probability based on the Uptrend that the Oscillators recycle in a day or two with a minor setback and the Uptrend continues takes the share price higher.
The T/A at this time is not giving a clue of negative because it can be checked with several signs for accumulation, & OBV, and for trend using the SAR. Checking the MACD Histogram bars also shows the short term trend if the successive vertical bars rising or falling in intensity.
Keep in mind that the charts are formed because of developments with the company. Based on it, and its severity, "The Market can do anything".
The market is a consensus through Volume and Price moves and their relationships. Charts just record what's the market dynamic is conveying
and requires one's interpretation.
I hope this helps.
GLTY
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