I am new to T/A and this is my first attempt after reading quite a bit in Chart School.
I think RSHN looks good based on both the positive money flow for the last 1.5+ months and the stochastics approaching oversold while the price of the stock is not trending.
Am I completely offbase and if so why? Anything I am missing that should steer me in a different direction?
I tried uploading an image and posting the URL to StockCharts.com but was not able to get the chart to present so the settings I am using:
EMA 30 EMA 80
Full Stochastics 14,3,3 Chaikin MoneyFlow 20
Thanks!
Posted by JOELGA on :
Yes, but look at RSHN again. There is hardly any volume.
Posted by Ric on :
Not sure that I would use EMA numbers that high for the penny market because of its volatility. Might try 22, 50 but still up to you and your preference. But as far as oversold it is not really close yet. Really needs to be below 30 before even thinking that part plays a role and I agree with JOELGA that the volume is nothing and would need to increase before a buy would be called. I think there are many others out there that more then likely will run sooner and for a larger margin. If you look at the trend the price has really been flat.