3 Reasons To Buy The Dip

Today we will look at 3 reasons to do so.

Reason #1– The 50 day MA. Since the March ICL the 50 day MA has been acting as support.

Reason # 2– RSI 05. Stocks are in an intermediate cycle advance that has been characterized by RSI embedding in overbought and having quick reversals once oversold. A quick bullish RSI reversal would indicate that stocks are resuming their intermediate cycle advance.

Reason # 3 – Cycle Band Buy Signal. Stocks are currently in a daily uptrend. If stocks form a swing low above the lower daily cycle band then stocks will remain in their daily uptrend and trigger a cycle band buy signal.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.