Posted On: 06/04/2014 10:45:11 AM
Post# of 30037
If you're long, a downtrend is generally regarded as negative (unless you are trying to buy more shares!)
Basically the two indicators have signaled a loss of momentum. These are plotted on the daily chart though, so I try and analyze the indicators after the market has closed and the indicators won't fluctuate till the next day. We could see a little drop the next few days, but nothing big imo.
As I previously mentioned, I like looking at these indicators on the Weekly chart (instead of daily), to get a bigger picture. On the weekly chart, the MACD signal line just crossed (BUY signal!) and the Stochs are trending up nicely. That is why i'm not worried about a few down days, as I believe we are heading up in the coming weeks/months.
Basically the two indicators have signaled a loss of momentum. These are plotted on the daily chart though, so I try and analyze the indicators after the market has closed and the indicators won't fluctuate till the next day. We could see a little drop the next few days, but nothing big imo.
As I previously mentioned, I like looking at these indicators on the Weekly chart (instead of daily), to get a bigger picture. On the weekly chart, the MACD signal line just crossed (BUY signal!) and the Stochs are trending up nicely. That is why i'm not worried about a few down days, as I believe we are heading up in the coming weeks/months.
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