If a particular share is in overbought or oversold territory, does it necessarily give you the green light to either dispose or purchase that particular share? I've read in some posts that some counters such as CFLB, KGAL, LCEY are currently in oversold territory. So does this mean that it is safe to purchase those stocks? Isnt there a chance for these stocks to go below the current price levels, apart from the reasons such as panic selling and credit clearing? Would appreciate your input. Thank you.
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