I hope we can continue what we had this weekend, it was really nice having insight from other people. One last post from me for the weekend before the start of a new trading week. I hope you like graphs
Let's start from the top. The bollinger band is slowly narrowing which is indicating a time of lower volatility, as you can see the close of Friday has put it directly in the centre of it. Being in the centre generally means the stock is neither oversold or undersold. The volume supports this, being low volume trading with little volatility. The MACD (Moving average convergence divergence) has been below the signal line but is about to hit an event known as a "crossover". In this circumstance this indicates a potential bullish period, supported by Friday trading. Finally, the RSI determines how over/undersold a stock is. This is travelling almost down the middle so once again, as supported by the bollinger band, the stock is healthy and not over/under sold currently. This is why I use multiple indicators as a guide for investing, although 2 indicators show the stock is not showing bearish/bullish nature one is showing a potential for bull. If I did not use this indicator I would not notice it.
*This is all forward looking for the potential movement and in no way predicts what is going to happen. Just by looking at the depth on CommSec you can see the potential for a small slide tomorrow but you never know!
IMO, GLTA, hope everyone had a good weekend!
