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MrMarketMaker,
“Your RSI is in overbought territory (sitting on 70). This needs to come back down so
It would be sensible to bank some profits and then buy back in.”
I do like to look at traders views as I dabble myself and every now and then you get one that knows what they are on about. Unfortunately I don’t think you do.
The RSIx14 range is NOT Necessarily in overbought territory at 70. Whilst an rsi of below 30 is an indication of oversold and over 70 is an indication of overbought it can also be an indication of bullish price momentum. Else nothing would go up!
RSI is a 14 day moving price average. It should be used in conjunction with other charting indicators. Unless of course you are pulling a technical term out of the air to sound clever and frighten a few folk who quite frankly if they are shouldn’t be investing in aim. That I think is your raison d‘etre
Anyways here’s a chart for you, short term bullish 3.25 resistance. 20dma has broken through 50dma. Imo All it takes then is for the 20dma to cross through the 100dma and hold and the medium and long term outlooks will turn from neutral to bullish.
Chart
https://www.marketscreener.com/quote/stock/BAHAMAS-PETROLEUM-COMPANY-6311079/charts/
RSI reference.
https://www.investopedia.com/terms/r/rsi.asp
Chart of RSI-14 for those interested and according to the London Stock Exchange it’s 68.24 at time of posting!
https://www.londonstockexchange.com/stock/BPC/bahamas-petroleum-company-plc/company-page
Trek
Chesh - enjoy the 3some - can recommend ;)
minimil Krapper is in the cage with me..............!
leave ma butch alone........... :()
All the best (come here hun ;)
MMM - do what you like you will always be a paid low life.....
Ok I’ll come back on here at close and see where it finishes :)
MMM - get back in you cage with krapper - yet another paid low life... FOAD
Your RSI is in overbought territory (sitting on 70). This needs to come back down so
It would be sensible to bank some profits and then buy back in.
I think this will start falling either later or from tomorrow and people will eventually sell much lower on fear!
Just my opinion
As part of the agreement with FRAM, Predator has the right (until 30 September 2020) to acquire FRAM's 100% interest (the "Interest") in the Inniss-Trinity field Incremental Production Services Contract."
Time to buy PRD for FRAM + Co2 production numbers whilst this retraces imho
GLA