Replies to post #106946 on Indo Global Exchanges Pte Ltd (IGEX)

[Porterhouse10]

Miles below the 50day MA, drip dilution, pockets lined, market says it's worth 1/5 one penny bwahh

[Carter]

Ah, yeah... I'm not sure that indicator means what you think it means.

"An MFI reading above 80 is considered overbought and an MFI reading below 20 is considered oversold"
https://www.investopedia.com/terms/m/mfi.asp

Using the same daily chart you linked we see that the MFI is currently under 20 (sitting at 14). This tell us that IGEX is now oversold.

If we then look at the same chart you linked for IGEX, but extend it over a couple of years, we can see how the PPS moved relative to the MFI. Not as a one-off, but over and over.
----> https://schrts.co/yHITekUJ

Look at what happens with the PPS when the MFI either gets close to 20 or dips below 20, as it currently is.

It explodes upwards.

Based on the historical chart, you can basically time your IGEX buys using the MFI. If you bought IGEX shares when the MFI got as low as it is now, you'd be buying just before the price exploded upwards.

That isn't a guarantee it's going to happen yet again, but it's an indicator that it will.

Should I add...

LoL

LoL

LoL

?