The MACD is on the verge of crossing over and the RSI has hit an uptrend since going below 30. In my opinion, this has the potential of gaining some momentum.
I got in at 3.56. This was a tough stock to ignore as the MACD has crossed over after a large selloff. The RSI is still telling us that it is oversold, but it appears to be continuing on a promising uptrend. I am willing to cut my losses if it drops down to 3.20.
The MACD has already crossed over and the RSI looks like it is on its way to crossover the 50 mark. Based on past trends, the stock responds well to these two indicators. I am going long at 1.07 and cutting my losses at a drop in price of 10%, or in simpler terms, at a price of 0.96.
As mentioned in my previous post, I analyze both the MACD and the RSI before I invest in a penny stock. The two things I look for are: 1) a crossover of the MACD and 2) a crossover of my "RSI Trigger Line" which is set at 50. In this case, the MACD has already crossed over and the RSI looks like it has a good chance of crossing the trigger line during the next...
When choosing the right penny stock, I analyze two indicators: the MACD and the RSI. In this case, the MACD has already crossed over and the RSI is about to cross the 50 mark, or what I like to refer to as my "trigger line". If you look at how this stock behaved when both indicators were displaying these patterns, it appears that the stock has increased not long...
