RE: Chart position15 Dec 2023 14:24
There were 11 bull divs on the RSI in the downtrend before it bottomed and turned.
There was only 1 bear div in October in the current uptrend which is not invalidated due a higher high. Multiple pivot points but no bear div in the recent high as RSI made a higher point. So when RSI makes still higher highs, the SP will do higher highs and then a few higher highs with the RSI bear divs printing. We are far off from that exhaustion yet.
You could argue RSI at 85 is too high, but then RSI was 0.7 during the bottom. Thats the equivalent of 99.3 on the high. So not a great indicator to stop this one atm.
It is printing new high anyway, so very little resistance at the highs.
btw, I do update my position in this on X with charting, if anyone interested for a regular picture. I literally bought this at the bottom after the turning point and added since at every dip. Today's break point is another significant moment but I would be waiting here for another dip to add. Although I am aware that many just wait for a breakpoint like this to confirm a buy signal to actually buy. So hope it closes above today.