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What kind of indicators can be applied to a new stock with only 6 bars of data?
- Thread starter lw27
- Start date
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.
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.
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.
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.
lw27
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.
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.