6 September 2016
R07 Rotary Engineering Daily Line Chart
Candlestick chart may be too busy and you can see the wave clearly. So, you can switch to line chart. So, can you see better. You see price line below moving average. You can be sure that the price trend is bearish. And further more the lines are moving from top to bottom, you can be even sure that the price is very bearish. This is how I see the stock performance in a glance.
Price Line Close Above MAs
Of course for this stock, the downtrend seem ending, and begin the reversal. The price line close up MAs and stay and bounce up MA.
However if you find the line is very confusing, you can move to a higher timeframe to see the price action better. See the next chart for more.
September 5, 2016 Rotary Engineering Limited Daily Line Chart
Higher Timeframe R07 Rotary Engineering Limited Weekly Chart
Can you read the chart better? The chart is less “noisy”. Have fun!
September 5, 2016 Rotary Engineering Weekly Line Chart
Moses
AmiBrokerAcademy.com
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