Whats RSI got to do with it
Quote:
Originally Posted by
SparkyTheClown
The Jim Cramer (ex US fund manager and now Mad Money host) once said "Three days of selling, then BUY".
If there is three days of near 10% drops, then look to technicals like RSI to suggest Xero is oversold.
I will be watching Diligent closely for the same reasons.
Given the recovery from the day's low today I would be extremely careful with this one, it doesn't smell right for the J. Cramer way to millions.
DIL is still on as a reasonable bet for next week.
But tomorrow is another day.
Best Wishes
Paper Tiger
Tomorrow it will either go up,down or sideways
I did not phrase that last post at all well. :ohmy:
Rapid fall to $11.50 (definite support level eh?) in the first 1.5 hours and then the rest of the day on a steady climb to $12.50.
There are some people with money out there who really believe Xero is worth this sort of price. :(
A sensible thing now would be for it to hang around this area for a while.
But you never know when the market is going to get properly spooked.
Best Wishes
Paper Tiger