$30,000 Millionaire said:
FJ43 said:
$30,000 Millionaire said:
It's the number one thing I look at along with volume. Shows trend, how extended a move is, and how long since the stock has reverted to the mean, which everything does.
Thanks. I'll add that to a new chart setup and look at a bunch if stocks over time to familiarize myself with the trends. Appreciate it. Love learning new tools.
Remember when I was saying last week that SPY needed to come down because it hadn't touched the mean in too long? It got close late last week - very predictable and an easy trade for me.
I think there are fair odds SPY touches ~360 sometime this year as well, maybe when we have tax loss selling. Not guaranteed, but feasible enough.
It's really easy to see with those bands especially when you compare back to the ROKU chart. Bounces off the upper and lower bands repetitively. When combining volume (especially declining) and ranging at the top easy to see the potential for a decline back to the mean. Thanks for sharing these.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11