I really am tied up on feelings for this chart. Just by glance what do you guys think? To me this is a overbought stock. there wasnt any news or any reason for this climb up. It went on downtrend rebounded and to me its a very good short op here. What do you guys think ?
Most stock traders have a "reason" for trading a particular stock versus thousands of other stocks. Simply, they don't just select a stock randomly and say I'll trade this stock. Therefore, I always ask a stock trader a few questions when they are confused. 1) Why did you select this particular stock in comparison to any other stock ? You using a scanner, someone told you about this stock, you read about it online or newspaper...what attracted you to this particular stock. 2) You have indicators on your chart. That implies you're using them (moving averages and RSI). What do your indicators tell you considering you're using them ? 3) Is this a stock on China's stock exchange ? Is so...isn't there some new rule to make it very difficult to short a stock for "day trading" (in and out in the same day) in an effort to protect the Shanghai and Shenzhen exchanges ? http://www.reuters.com/article/2015/08/04/us-china-markets-shorting-idUSKCN0Q909E20150804 As a reminder, the above are just questions...no trade advice.
nothing really made me except for intuition i guess. I saw this stock and thought i should just keep an eye on it. This isnt a chinese stock but akorean one. This stock has great momentum to the upside and if at the start if it continues i would go long and it also could break down so its a possible short. I dont look too much into fundamentals, but more on the TA side. Basically i get into a stock for a quick buck and then get out. I take my profits and walk away. For me to hold on to it any longer than lets say a couple of minutes is something i dont have the stomach for yet. I can make really good predictions on where the stock will go in the next two or three minutes but an hour or 30 minutes from is where im still having lots of trouble with.