Replies to post #23436 on Results Driven Alerts

[Soapy Bubbles]

If it were a swing trade, then I'd say to wait for a consolidation pattern to emerge. There's not one there at the moment and the non-parallel aroons confirm that. Further you're trying to oversell on the RSI while seating at the LBB. That tells me the sellers are weakening and cannot easily push beyond what's statistically allowable. So -- if I had $3k and were waiting, I'd wait just a little more to see what the market is thinking. I am thinking you'll see the RSI oscillate about the 30 line while it consolidates. (Given the assumption that large seller is done.)

Also, avg volume of about 3M was historically stable for the chart and represents normal trading. Since KATX is way over that at the moment, it's just not retail out there unless people are freaking out.


Note, weekly chart is a bit more useful.