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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Technical update 12.08.2022 Maharaja

Technical update 12.08.2022 Maharaja

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Maharaja

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Expert
Expert

Dear followers,

Cut anything on credit on Monday. Below are reasons ;

1.) RSI - 85.7  (Overbought)

2.) Continuous Higher highs seen. Reversal candlestick is guaranteed.

3.) Bollinger band (20,2) - Trend line above band for 6/7 days. Needs to come inside band. 2 day drop possible

4.) Stochastic Oscillator - 96.6 - Highly overbought

5.) ROC  - 16.8 Peak of an uptrend (Can go 2 more days max.) 


Do Only Day Trading - next week

Maharaja

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Post Sun Aug 14, 2022 6:21 pm by samaritan

RSI is used in conjunction with MACD chart in technical analysis to make buy/sell decisions. 


But when a market features a strong trend like what the CSE is experiencing, the RSI as an indicator loses its usefulness. Hence, suggest relying on fundamental analysis supplemented with technical analysis as guidance.




https://www.iforex.in/education-center/rsi-relative-strength-index

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Post Sun Aug 14, 2022 9:09 pm by Maharaja

Samaritan


Maharaja only shows the correct way. To listen and follow his advise is upto the followers.


Maharaja

Chula likes this post

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Post Mon Aug 15, 2022 11:43 am by Maharaja

As expected the reversal happened. From 220 points it came to 65 points.
However recovery also happened immediately.

9800 levels achievable


Maharaja

Chula likes this post

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Post Mon Aug 15, 2022 10:47 pm by stockchaser

Maharaja wrote:As expected the reversal happened. From 220 points it came to 65 points.
However recovery also happened immediately.

9800 levels achievable


Maharaja
Maharaja, pls tell what's going to happen to LOFC

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Post Mon Aug 15, 2022 11:04 pm by Maharaja

Right now, don’t wait with it. (Can go tomorrow - not sure)
I recommend to exit at 12/13 level.
Because better chances available - BIL LIOC KCAB ACL BFL REXP EXPO LALU etc etc


Maharaja

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