RE: RSI and techs oversold30 Sep 2020 12:54
Morning shan, on daily RSI you're absolutely correct that @ the current RSI of 25% this is should now be oversold, but unfortunately the SNG RSI seems to behave differently to normal charting rules : daily RSI has been as low as about 4% before now and quite often into single-digit percentages.
I'm hoping that we end up with a bullish hammer candlestick today with a close around 150p, having broken below, then risen above the 50% fibonacci retracement around 147p. We'll see. If the bears continue to prevail then the next fib level of 61.8% is around 120p. Hopefully that isn't tested.
PS, there weren't many takers for your General Chat Topic re Covid stocks, but I thank you for starting the thread anyway. Best of luck !