One World Ventures Inc. (OWVI)

[tryin2bank]

We really were not (too) overbought last week. What we saw last week was a total week sell off due to the fact that the week before (the week of the 23rd), the CCI was up to over 300! That started the sell off, but even the start of last week (the 30th)was still almost 200. Last week closed with the CCI at the 100 mark. 100 is the magical number of a stock being overbought. Therefore, IMO, we continue to see the downtrend and the CCI now sits at -63. At -100, it then becomes undersold.

The RSI works the same way with a slightly different formula, but stating the same thing. According to the RSI (14), this stock was never overbought. But that is why I would rather watch the CCI (20). I am liking the positions of the indicators right now gearing up for the next run. They will be more supportive of a longer / higher run. But, this is all my opinion.