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Originally Posted by Paint it Black
From what I see we have had in the past couple of days type 1 and 4 buy signals
There have been four recent Buy signals - one each of Types 1, 3, 4 and 9.
Originally Posted by Paint it Black
..... which have been countermanded by overbought warnings
A stock reaching OverBought levels does not countermand previous Buy signals and neither does it constitute a warning. Uptrending stocks often spend considerable periods of time at technically "OverBought" levels and these simply mark bad times to buy. When stocks are trending up, oscillators give good entry signals and a string of misleading "Sell" signals. With falling stocks, oscillators give a string of misleading "Buy" signals but useful Sell signals. In short, never act on any oscillator signal in isolation.
Originally Posted by Paint it Black
....then why it is a hold?
Because it is in an uptrend.
Because that uptrend is supported (confirmed) by a rising OBV.
Because price action is above a confirmed trendline.
Because there have been no Sell signals.
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