CryoPort Inc (CYRX)

[tigertrader]

>>With an RSI between 50-70 for some time now it shows there still is strong interest in this stock on the buying side. smile<<
Meaningless... and factually incorrect.

There isn't an indicator that I know of, that can be used as stand alone tool. The RSI like any other indicator, is best used as complement to other indicators and technical analysis. In any event, the RSI does not indicate interest in a stock. In the case of a standard RSI with a 14 period default setting, it is the average of 14 days higher-closes divided by the 14 day average of lower closes. So, it is essentially a momentum indicator that compares the markets gains over the last 14 sessions to the markets losses over those last 14 sessions, and is best used to determine if the market is overbought or oversold. If you are looking at a daily chart, with the default RSI, you are only looking at the last 3 weeks action.It does not indicate anything beyond that time period.

If you were to look at the RSI on a weekly chart, you would see that it is 40 and falling, indicating waning momentum and if you were to look at RSI on a monthly, you would see that it is approaching overbought territory.


>>Keep in mind what Larry said on the conf call about profitability and having to wait until EOY. So we have some time to wait still.<<
Even more meaningless... and most likely just as factually incorrect.