17 July 2021
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We sometime bench mark stock price action for two stocks. The following example, we benchmark British American Tobacco with NASDAQ Composite Index. ^IXIC is a major index in US market. Besides that we use other tools such as 1) Ichimoku Cloud, 2) Support Resistance (using box), 3) River (moving average), 4) GMMA and Woodies CCI, 5) Bollinger Bands and Moving Averages, and 6) MACD to analyze chart. See our simple reading of price action. We read Cryptocurrencies price action chart too.
We translate price action chart into layman language. This will help you in understand the financial instrument you are trading. We believe picture worth a thousand words. So, sometimes we use less words. You can learn the price action interpretation too. Give it a tray. You may not have the same view points as us. Remember all analysis read price action chart differently. It is just like reading an essay, we will have different conclusion.
Trade well.
Trade what you see. Manage your risk.
1) British American Tobacco PLC and NASDAQ Composite Index Correlation
We study price action we see British American Tobacco PLC stock price bounce up and pullback. We see price action can not make any higher high, the resistance has been so strong to stand for so many months. Don’t play play, don’t under estimate the price will a longer time to breakout higher. See the last few months the test of the ceiling even more frequently.
Trade what you see.
Now, see NASDAQ Composite Index, the price action has been growing higher and higher. price action continues to forms higher high. Price Action does not move in straight line, it moves in zigzag manner.
Remember, we just read what the chart said. Remember do not imaging.
Moses Power Charting
Official AmiBrokerAcademy.com Charting
Disclaimer
The above result is for illustration purpose. It is not meant to be used for buy or sell decision. We do not recommend any particular stocks. If particular stocks of such are mentioned, they are meant as demonstration of Amibroker as a powerful charting software and MACD. Amibroker can program to scan the stocks for buy and sell signals.
These are script generated signals. Not all scan results are shown here. The MACD signal should use with price action. Users must understand what MACD and price action are all about before using them. If necessary you should attend a course to learn more on Technical Analysis (TA) and Moving Average Convergence Divergence, MACD.
Once again, the website does not guarantee any results or investment return based on the information and instruction you have read here. It should be used as learning aids only and if you decide to trade real money, all trading decision should be your own.
We learn from many past and present great traders. Kudo to these master.