What kind of indicators can be applied to a new stock with only 6 bars of data?

Discussion in 'Data Sets and Feeds' started by lw27, Jan 20, 2004.

  1. lw27


    Can anyone tell me which indicators to use in order to analyze a new stock with only 6 bars of data(just traded 6 days)? I am quite new to TA. Thanks a lot in advance.
  2. c_verm


    Good Question?

    Well you cant use technical analysis if the stock has no historical charting. 6 bars isnt much to go by. But you could use candles and trade with that strategy. ex. doji's, shooting stars ect...

    REally you just have to read the news and decide if you think its a solid company or not.
  3. mind


    maybe a short indicator. maybe.
  4. The really shaky kind?
  5. H2O


    Don't use indicators on these stocks.
    TA is based on the thought that human nature repeats itself. With only a short history, you cannot see any repetitions.

    Only valuable information could be volume ??? (rising in the direction of the trend, but I doubt, because new stocks need some time before lots of people start to trade them.)

    Better to trade "old" stocks, especially if you're new.
  6. agpilot


    A trendline only needs two points..

  7. Go to 15-min bars - now you have more than six bars!
  8. mind


    i would never use a trendline with less than three points!
  9. mind



    sorry for this nonproductive talking - temptation was too big.

    i would not apply traditional TA thinking for such a stock. most likely other conditions will be more dominant than trend lines. maybe pivot points and other support/ resistance stuff, but all indicators will tell nothing. maybe you find a comparable stock and use information from there. in any case hot issues are just that - hot issues.

  10. try a 3 minute chart.

    #10     Jan 20, 2004