Regardless we are traders or investors, should know to look for the trend and what is Oversold (OS) n Overbought.
For this round, like CNERGEN, when it started form first LH and indicators heading to OS area, we should foresee it's downtrend in making.
What OS means (for me):
>> day trade with lesser profit (best is skip).
>> lower will getting lower (loser will keep losing).
>> CL ASAP (or at the next LH, if any, much depend on own strategy).
>> those keep thinking buy at OS is good, buy red is good, keep averaging down for month (seems familiar and happen to you?).
On the contradiction, OB will continue the OB trend, in which majority will think sky is falling down (usually won't). And it only happen on the next moment when they press to buy button (FOMO).
..... To be continue on next OB chart soon.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.
For this round, like CNERGEN, when it started form first LH and indicators heading to OS area, we should foresee it's downtrend in making.
What OS means (for me):
>> day trade with lesser profit (best is skip).
>> lower will getting lower (loser will keep losing).
>> CL ASAP (or at the next LH, if any, much depend on own strategy).
>> those keep thinking buy at OS is good, buy red is good, keep averaging down for month (seems familiar and happen to you?).
On the contradiction, OB will continue the OB trend, in which majority will think sky is falling down (usually won't). And it only happen on the next moment when they press to buy button (FOMO).
..... To be continue on next OB chart soon.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.
As always mention, OS may continue OS trend.
Avoid it until show some strength.
Just another waiting game.