Okay I've been studying TA recently, particularly stochastics as an overbought/oversold indicator. Is it fair to say that by looking at this chart that MSFT looks like a buy at around this price or am I mistaken. I just need some reassurance to make sure I'm on the right track to interpreting these charts. Thanks.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Stochastics Newbie Question
- Thread starter Drew07
- Start date
Drew, If MSFT can not stay above 30.40 then it is coming down
to 27.70 and then 25.30. That stochastic will get you into trouble
unless you are trading nickles and dimes.
to 27.70 and then 25.30. That stochastic will get you into trouble
unless you are trading nickles and dimes.
Quote from phillyflipper:
Drew, If MSFT can not stay above 30.40 then it is coming down
to 27.70 and then 25.30. That stochastic will get you into trouble
unless you are trading nickles and dimes.
I figured this would be a shorter term strategy. What makes you bearish on it if it can't hold it's recent highs? Why are these particular levels significant? Thanks.
Drew, watch 29.55 to 29.65 area for resistance and another move down to 28.85. Just my opinion
Quote from Drew07:
I figured this would be a shorter term strategy. What makes you bearish on it if it can't hold it's recent highs? Why are these particular levels significant? Thanks.
Drew, i am not bearish on MSFT . I am just looking at the movement and retracement patterns. You may be able to buy at a better (lower price). Watch the 29.55 to 29.65 area tomorrow.
If it can not stay above that then it could come down about .70
I would watch to see if it bounced off the major trendline tomorrow to confirm before putting in a trade. Not a bad trade if you think about it, I'm bullish on tech still.
28.5 to 29.00 looks like support. Why would you buy with those
huge red volume bars?. MFI also make a good overbought/ oversold indicator and it's not as confusing as Stochastics...I think. Also ROC (momentum) shows no signs of turning up, so wait a lil while longer I'd say .
http://stockcharts.com/h-sc/ui?s=MSFT&p=D&yr=0&mn=4&dy=0&id=p53035442678
cm69
huge red volume bars?. MFI also make a good overbought/ oversold indicator and it's not as confusing as Stochastics...I think. Also ROC (momentum) shows no signs of turning up, so wait a lil while longer I'd say .
http://stockcharts.com/h-sc/ui?s=MSFT&p=D&yr=0&mn=4&dy=0&id=p53035442678
cm69
Drew, did you ever put on that MSFT trade?? If not wait. It will probably hit those other areas I mentioned....27.70 then 25.30