I only bought them because i liked the tv ad :eek:
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I only bought them because i liked the tv ad :eek:
Yes
Lego_Man I'm assuming you have already downloaded and set up (registered) your free program.
When you open up your incredible charts pro program from your desktop icon... your ID page pops up .. click the tick button.... a chart then appears.
In the box situated about 70mm down on the left hand, type in the NZ security you choose.
example
Tower ...type in y_TWR.nz
Telecom ........y_TEL.nz
Thanks for that!
Now to analyse my brother's GPG buy...
To use Incrediblecharts click securities > load by symbol from Yahoo > type in symbol.NZ > load & your good to go.
I totally agree Ratkin that we should base our decisions on familiarity and solid research. I'm thinking that my next holiday will be in Brazil because Gisele Bundchen is totally hot. Less senior members would do well to heed the wisdom that we bring to these threads
Gisele Bundchen? Who he?
I did some research and came to the conclusion that your wisdom is paired with taste, discernment and an understandable penchant for Brazilians! http://lh6.ggpht.com/fisherwy/Rx9nyC...en[12].jpg
The 14 day RSI on TWR reads 80 (overbought).
What say ye technical wizards?
As always Phaedrus your research is better than mine!
An RSI of anything over 70 means that technically, the stock is overbought. When the RSI drops back down through this level it generates a SELL signal. BUT when stocks are in an Uptrend they will repeatedly move in and out of OverBought territory as the uptrend progresses. This generates a string of misleading "Sell" signals. They do identify good "short-term" exit points, though, if that is what you are looking for.
The chart below covers a halcyon period in TWR's history when it was in a nice steady Uptrend. See how the RSI was often "OverBought" but that in the scheme of things this meant very little. You wouldn't have wanted to have acted on any of those "Sell" signals, right?
Trend indicators are what is required to monitor trends. Oscillators are at their most useful with ranging stocks. Similarly, trend indicators are not good with ranging stocks, generating a string of misleading and contradictory signals.
This is a very brief and simplistic overview of the RSI indicator. There is a lot more info on the net if you Google RSI.
http://h1.ripway.com/78963/TWRrsi.gif