Replies to post #138826 on Elite Pharmaceuticals Inc (ELTP)

[John_Langston]

Think of a chart as a GPS display; the more we zoom in the less of the big picture we see.

[John_Langston]

Is the weekly chart an accurate indicator?

For day traders; yes

[conix]

sharpei, I use the weekly chart as a "supporting" perspective to deciding entry points for a trade. But the weekly chart would never change my mind on what the more recent charts indicate.



ELTP's RSI is in the neutral zone, imo. But the tax loss selling has an impact on the trading these next few days.

JMO>