Extreme Selling Always Has Corrections -FEZ
I'm purely bored of Bitcoin at the moment and decided to go to TD to trade. So, today I decided to look at some ETFs.
What I have found is that currently
FEZ is being highly OVERSOLD for whatever reason. The bears may have taken over short term, but it looks like a correction is long overdue at this point. The current bear trend is not valid at this point.
Many indicators have been for month now stuck in OS mode.
PFE as been down below -100 for a long time, and I would guess that a correction is due soon.
PSAR is about to touch the price line which may in fact switch tomorrow to BUY. The rally may not last long, but even a few quick $ are nice to get.
StochRSI is reeving back up again and may start going above 50. I'd wait until then for it to confirm or you can take the risk now.
DC shows that price crossed over around the same time that the other indicators did. We'd need to get up to 42.75 for complete reversal, and anything before that is just a correction.
Aroon is still telling that the market is in downward period. Closer to zero would confirm some sort of trend up.
In conclusion, see what the this does in the next few days. Carefully watch the price along with the indicators. Once PFE gets going up there is no stopping it. Think of this as a mini bull/bear bubble market. Always a good time to buy when the market has completely overextended itself for a few weeks with not 1 correction.
What I have found is that currently
FEZ is being highly OVERSOLD for whatever reason. The bears may have taken over short term, but it looks like a correction is long overdue at this point. The current bear trend is not valid at this point.Many indicators have been for month now stuck in OS mode.
PFE as been down below -100 for a long time, and I would guess that a correction is due soon.
PSAR is about to touch the price line which may in fact switch tomorrow to BUY. The rally may not last long, but even a few quick $ are nice to get.
StochRSI is reeving back up again and may start going above 50. I'd wait until then for it to confirm or you can take the risk now.
DC shows that price crossed over around the same time that the other indicators did. We'd need to get up to 42.75 for complete reversal, and anything before that is just a correction.
Aroon is still telling that the market is in downward period. Closer to zero would confirm some sort of trend up.
In conclusion, see what the this does in the next few days. Carefully watch the price along with the indicators. Once PFE gets going up there is no stopping it. Think of this as a mini bull/bear bubble market. Always a good time to buy when the market has completely overextended itself for a few weeks with not 1 correction.
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