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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: Sun Tzu who wrote (45211)11/30/2021 11:52:10 PM
From: Jacob Snyder  Read Replies (3) of 96679
 
INCY: you and I often look at completely different things, when making a decision about a stock.

I always look at FA first, before I consider buying.

Next, I always look at the LT chart (5y, or 10y) before considering the 1y chart. On the 5y chart, schrts.co the most important feature is the support line around 62. The second most important line is the very-LT ma (200w). If the FA is good, then I expect ReversionToTheMean, to bring the stock up and above that line (timing uncertain).

Third, in the downtrend since July 2020, the 10wma (similar to 50dma) says nothing. It has not been a resistance line; rallies which eventually fail have brought the stock above the 50dma many times. So using that line as a buy trigger would give a false signal.

MACD, RSI look bullish.

If I bought now, and it fell below the 50dma, I would buy more, and continue buying until support at 62 was broken.
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