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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: nokomis who wrote (113097)9/4/2000 3:04:40 PM
From: Jenna  Read Replies (3) of 120523
 
Overbought stocks can move higher and higher.. However, its like a sign post with a flashing yellow light letting you know you have to be aware of a possible reversal at any time, even on the intraday chart. Stochastics and CCI are a fine predictor of possible trend changes even before the price changes. When they turn negative and slope downwards you may expect prices to move down. MACD and other indicators are somewhat slower and their main value lies in a divergent reading... when the prices are fine but the the MACD is moving a new intraday or daily price chart low, you might have a sign of impending reversal.
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