Industrial Sector Ideas

[gfp927z]

Yes, with GNRC the 50 MA turned out to be the exact bottom on Wednesday. Today and yesterday the support was the lower Bollinger band (~ 415), but that also happens to be right near the current 34 MA (417).

I mainly just use the 50 and 200 MA, plus the Bol bands (the middle Bol band = 20 MA). So this keeps it simple, and these seem to be be the most commonly used reference points by Wall Street, along with the 100 MA.

In addition I use the previous highs and lows, plus candlestick patterns, and the common chart patterns like head + shoulders, ascending triangle, etc. Then there are the main indicators RSI and MACD, plus I use Full Stoch, CCI, and the Vortex indicator to help determine tops/bottoms.

But there's still a lot of guesswork, and I'm still learning. I haven't been doing much trading lately. After a great 2020/21, no sense giving it back :o) Most of those gains came from buy/hold, the market had gotten so cheap last year it was easy to just load up and stay long. But not so easy now.