Hi everybody
I'm just learning and have a question- An explanation appreciated!!!
NOV 17- : price high @1.36 RSI 80
Feb 27 - ACUR: price high @.65 RSI 80 What does this tell us? good or bad?
Does this mean - today was stronger move and will continue ? OR opposite--
with lower price RSI already reached overbought point
Thanks
lana
The way I use RSI depends on what the stock has done previously in overbought or oversold conditions.
I've seen some stocks advance, in RSI above 70, another 10-15% before they correct. Others drop within a day or two.
Looking at three year history of ACUR I see 4 times (including today) it has penetrated RSI 70 - and it dropped hard immediatley afterwards ( down 8% as of this message).
I'd say it's a pretty good indicator for this stock.
Thanks KCScott
Placed sell limit @.54 Will see
Plus I don't like their "Financials" today ACURA PHARMACEUTICALS, INC Financials (http://acura%20pharmaceuticals,%20inc%20financials)
lana
Changed order to.535. Filled. But last tick doesn't show my sell and vol too.????
I'm wondering about this BIG spike on HUGE vol for several years
Feels like I should hold
lana