CdnPhoto
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Post by CdnPhoto on Oct 11, 2023 4:15:34 GMT -8
AAPL is slightly green at $178.40 +0.01 (+0.01%) RSI at 54.01
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aapl
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Post by aapl on Oct 11, 2023 4:41:16 GMT -8
Where do you find the RSI or are you calculating it yourself?
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CdnPhoto
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Post by CdnPhoto on Oct 11, 2023 5:10:46 GMT -8
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aapl
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Post by aapl on Oct 11, 2023 5:22:22 GMT -8
Thanks! I like how you can change the number of days used in its calculation. How accurate do you find RSI as a trading indicator? is it better than 50%?
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CdnPhoto
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Post by CdnPhoto on Oct 11, 2023 5:46:01 GMT -8
Thanks! I like how you can change the number of days used in its calculation. How accurate do you find RSI as a trading indicator? is it better than 50%? I watch it, more as another bit of information. Over bought is when RSI is over 70, and over sold is under 30. At over bought, watch for a drop. Likewise, at over sold, look for a climb.
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4aapl
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Post by 4aapl on Oct 11, 2023 7:16:57 GMT -8
Thanks! I like how you can change the number of days used in its calculation. How accurate do you find RSI as a trading indicator? is it better than 50%? I watch it, more as another bit of information. Over bought is when RSI is over 70, and over sold is under 30. At over bought, watch for a drop. Likewise, at over sold, look for a climb. To me RSI works well as a good confirmation of how I feel and why that is. When the 14 day RSI is down to 35 or below, that means most of the previous 14 trading days have been down. From a bullish standpoint, I'm normally not that happy with the movement of AAPL, and negative rumors are normally flying. But sometimes this is a confirmation of why I feel bad, and a reminder that if I want to pick up more shares, options, or write puts, this likely is a decent time. At the other end, when AAPL gets an RSI above 70, especially if it is there for a week or climbs to 80, I'm probably feeling pretty good about the stock. But this is a reminder to not get too blinded by the glow. It's not always a sign that the stock is going to fall, but 80+ could be a bubbly top. That said, at both the high and low values, it can ease off while the stock stays flat. Put in a few days of the stock close being within half a percent as the day before, especially if there is a mix of positive and negative days for a net flat time period, and that RSI will move back towards the neutral level of 50. Like any technical, it doesn't know about events or announcements. And it's not absolute. Instead, it's trying to look at history to give you some info. This seems to be more directly related to mass psychology of if investors are overly excited or feeling pretty down. As one of those investors who might feel that way, I find it a good reminder that it's a mass psychology feeling rather than just me. And while in retrospect over the long term AAPL has always been a great buy when the RSI is below 35 or 30, that has also been true of the stock in general, and just because the RSI is that low doesn't mean it's at a relative low. We've been blessed with AAPL.
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CdnPhoto
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Post by CdnPhoto on Oct 11, 2023 12:06:15 GMT -8
Well, the day ended nicely. Just shy of the $180 mark.
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Dave
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Post by Dave on Oct 11, 2023 12:28:01 GMT -8
Well, the day ended nicely. Just shy of the $180 mark. Yes, a nice close. A sharp increase in the share price and the volume. A lot of someone's think that tomorrow will be good.
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