Posted On: 12/08/2015 3:58:07 PM
Post# of 30038
Re: All Aboard #21670
Sure AF didn't help but to be honest the chart told the story. If you look at the 3 year daily chart all 9 times the RSI(14) has gone 70 or above the PPS has come back down significantly. The RSI was at 80 this morning before the opening bell. So the chart is now a perfect 10 for 10.
So once the PPS started to drop this morning all those traders that bought in the .80s and above were quick to sell and lock in profits or just trying to get out even. The savvy traders were waiting at the 50 dma (.73) to buy shares. Thus why the PPS bounced off .71. Now the question is where we go from here.
The good news is we have turned the float at a much higher PPS which will allow it to go higher on the next run.
So once the PPS started to drop this morning all those traders that bought in the .80s and above were quick to sell and lock in profits or just trying to get out even. The savvy traders were waiting at the 50 dma (.73) to buy shares. Thus why the PPS bounced off .71. Now the question is where we go from here.
The good news is we have turned the float at a much higher PPS which will allow it to go higher on the next run.
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