The market may consolidate either today or any day within the 3-day trading week after a 10-day straight bull run. In the Daily Chart, Stochastic shows how overbought the main index already is. Nonetheless, the bull symbol in the DMI chart is seemingly saying, “Oh well, I’m still on my way to be directionally stronger than the bears behind me. Could you wait some more?”
Changing the chart from Daily to Weekly, Stochastic relaxes below the overbought mark. Two buy signals were also spotted on the DMI and QStick windows.
In both charts, PARSAR maintains the signal that the upward momentum is still in.
So, we got 2 possibilities. It’s either the market will consolidate or it’ll continue to record new 52-week highs.
So what will you do then? Trade based on what the technicals of your individual stocks are telling you. Watch out for those private placements. They’ll bring the share price down. If numbers show that that stock is a good stock to invest in, see that opportunity to buy at a cheaper price, provided its current price is lower than your Entry Price (or Buy Below Price) and gives you an okay upside % to your Exit Price (or Target Selling Price).
There’s more to say but that’ll be it for now.
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