RoughCut:

Trust me i'm not mixing it all up! When the RSI is ABOVE 70 it is OVERSOLD and a retractment downward is imminent that will be the time to BUY and when the RSI is below 30 it OVERBOUGHT and an upward swing is imminent and that will be the time to SELL

Read the statement in its enitirety and then you get the PICTURE and also refer to the comment i made about the 10 and 50-Day EMA then you will see they corroborate each other which is the reason you normally use or look at  more than one TECHNICAL INDICATOR

Let me know if the concept is still confusing

Na. This is not correct Roughcut. Abi I still dey sleep?

Above 70 or 80 = Overbought - Get ready to sell when it moves downwards out of  this region
Below 30 or 20 = Oversold      - Get ready to buy when it moves upwards out of this region

If you are using 80 and 20 then 70 and 30 will not give you any signal.
------
Overbought/Oversold
Wilder recommended using 70 and 30 and overbought and oversold levels respectively. Generally, if the RSI rises above 30 it is considered bullish for the underlying stock. Conversely, if the RSI falls below 70, it is a bearish signal. Some traders identify the long-term trend and then use extreme readings for entry points. If the long-term trend is bullish, then oversold readings could mark potential entry points.
---------

Abi I dey see double?

[quote from Investorswords.com]
RSI
Definition

Relative Strength Index. A technical analysis indicator which measures the magnitude of gains over a given time period against the magnitude of losses over that period. The equation is RSI = 100 - 100 / (1 + RS) where RS = (total gains / n) / (total losses / n) and n = number of RSI periods. The value can range from 1 to 100. Some technical analysts believe that a value of 30 or below indicates an oversold condition and that a value of 70 or above indicates an overbought condition.
[quote][/quote]

Hope this helps.

I need to be reading this thread very well-Pumping thanks for refering me to page 374
Union Homes appears to have 75th Street for La Guardia Airport.

Cashcraft-Has anyone been able to log in this week?Dem no go give person hypertension o!

pumice:

@Roughcut

I'm sorry upward and pumping are right but I agree you are mixing up usually above 70 or 80 is overbought and below 20 or 30 is oversold.

@ all
Pumping is right; because a price crosses 70 or 80 doesn't mean you should sell. It just there are too many buyers and and there will soon be a price correction. It may take one week or one month. One should be careful about these numbers, what they mean and how they are calculated. For example RSI calculated with 8 values will experience many more overbought or oversold positions more than an RSI calculated with 20 values.

The most important thing is these are numbers and should never be taken in a vacuum.

Which is the reason you usually do your analysis over a 50-day period which means the trend patterns are more reliable although you can get around this by using the fast and slow stochastic oscillators for shorter time frame  as these are not  lagging indicators but i think we can leave this for another time

upward:

No not you, I was actually talking to pumping, check again.

I deleted it to confirm I was still awake. After pinching myself twice and wincing successfully, I put it back there.

pumping777:

Na. This is not correct Roughcut. Abi I still dey sleep?

Above 70 or 80 = Overbought - Get ready to sell when it moves downwards out of this region
Below 30 or 20 = Oversold - Get ready to buy when it moves upwards out of this region

If you are using 80 and 20 then 70 and 30 will not give you any signal.
------
Overbought/Oversold
Wilder recommended using 70 and 30 and overbought and oversold levels respectively. Generally, if the RSI rises above 30 it is considered bullish for the underlying stock. Conversely, if the RSI falls below 70, it is a bearish signal. Some traders identify the long-term trend and then use extreme readings for entry points. If the long-term trend is bullish, then oversold readings could mark potential entry points.
---------

Abi I dey see double?

You're 100% correct Pumping777!

I can see that this RSI topic has brought about serious brain-storming, very good for all of us, thank God I was able to point it out so that unsuspecting newbies, _{I'm still a newbie-o} will not be led astray. Roughcut, check your books and you may be willing to shift positions.

Can someone give today's stock position as compatible with aptistock?

Thanks

grabdaloot:

I have a sick feeling in my stomach. How come UBA and OCEANIC made substantial gains on the same day?? This market sef almost everything is out of reach.

UBA needs to make gains o! Your boy is in big time.  

Only 23 companies lost blood money. Diamond is creeping into "buy" territory (I've bought mine already ) + 9 month results are due within 4 weeks: classic CICO opportunity. Fo2 no be so?

Looks like the bulls are back baby!

Genuine:

Can someone give today's stock position as compatible with aptistock?

Thanks

easimoni can help or you can check his other thread on aptistock.

Genuine:

Can someone give today's stock position as compatible with aptistock?

Thanks

The aptistock thread is good till last friday. Na pro-bono I dey do so na once a week I dey update am . But because na you, I go update am in 15 mins. One-time offer only.

pumping777:

Na. This is not correct Roughcut. Abi I still dey sleep?

Above 70 or 80 = Overbought - Get ready to sell when it moves downwards out of  this region
Below 30 or 20 = Oversold      - Get ready to buy when it moves upwards out of this region

If you are using 80 and 20 then 70 and 30 will not give you any signal.
------
Overbought/Oversold
Wilder recommended using 70 and 30 and overbought and oversold levels respectively. Generally, if the RSI rises above 30 it is considered bullish for the underlying stock. Conversely, if the RSI falls below 70, it is a bearish signal. Some traders identify the long-term trend and then use extreme readings for entry points. If the long-term trend is bullish, then oversold readings could mark potential entry points.

Abi I dey see double?

---------

You can only use either 80 and 20 or 30 and 70 as your boundary values. Not both innit?


Mr pumping777 has clarified the issues
O pari

easimoni:

The aptistock thread is good till last friday. Na pro-bono I dey do so na once a week I dey update am . But because na you, I go update am in 15 mins. One-time offer only.

https://www.nairaland.com/nigeria/topic-103844.32.html

Aptistock data is updated

Now I have to work.

blueband:

I need to be reading this thread very well-Pumping thanks for refering me to page 374
Union Homes appears to have 75th Street for La Guardia Airport.

Cashcraft-Has anyone been able to log in this week?Dem no go give person hypertension o!

Not yet. To gain access into the website is another story. My broker told me that it is the same with them there and that they were working to rectify it. That was yesterday anyway.

@Heights

The unity bank figures are from nigerianstockexchange.com. You have to login to the members area to see the volumes and price info, as well as download daily price figures in delimited text files.

just to clarify and conclude for all the fellas:

RSI - below 30: buy (means stock is giving oversold signal)
RSI - above 70: sell (means stock is giving overbought signal)

MACD (has 3 possible buy signals)
1. buy when MACD crosses above its signal line, sell when MACD crosses and goes below its signal line. signal line is EXP-9
2.Buy when MACD crosses centre line
3. Buy when u see POSITIVE DIVERGENCE (this is better seen than explained (pumice could u please help with a pictorial illustration of this cuz i dont know how to paste the pictures on here)

EMA - exponential moving average: buy when price rises above moving average, sell when price falls below moving average.

tech analysis can help make buy or sell decisions and should not be used in isolation. Also, no singular indicator is "the best indicator" and a number of indicators used be used together for best results.

Nigeriansecurities.com is a good place to start using the above explanations.

thats it, air cleared. now lets make some money

@roughcut, i use the 50 line on the RSI for my decisions to get in early, above 50- bullish, below 50- bearish.
i got into cutix about 2 months ago a bit on the high side cuz i see it doing really well.

jandbaby:

@Heights

The unity bank figures are from nigerianstockexchange.com. You have to login to the members area to see the volumes and price info, as well as download daily price figures in delimited text files.

Does one have to pay to be able to login to the members area of nigerianstockexchange website?

@ Wanaj0

Still inside the UNIC flight o (economy class) thanks for the Champagne (the hostess gave it to me), I am happy to know you are still holding your first class sit.

It was the drink that makes me hang on, I would have jump out with those Taliban’s at 25% but today we are at 40% and still going strong.

aktopgun:

just to clarify and conclude for all the fellas:

RSI - below 30: buy (means stock is giving oversold signal)
RSI - above 70: sell (means stock is giving overbought signal)

MACD (has 3 possible buy signals)
1. buy when MACD crosses above its signal line, sell when MACD crosses and goes below its signal line. signal line is EXP-9
2.Buy when MACD crosses centre line
3. Buy when u see POSITIVE DIVERGENCE (this is better seen than explained (pumice could u please help with a pictorial illustration of this because i don't know how to paste the pictures on here)

EMA - exponential moving average: buy when price rises above moving average, sell when price falls below moving average.

tech analysis can help make buy or sell decisions and should not be used in isolation. Also, no singular indicator is "the best indicator" and a number of indicators used be used together for best results.

Nigeriansecurities.com is a good place to start using the above explanations.

thats it, air cleared. now lets make some money

@roughcut, i use the 50 line on the RSI for my decisions to get in early, above 50- bullish, below 50- bearish.
i got into cutix about 2 months ago a bit on the high side because i see it doing really well.

keeping quiet is the worst sin here , kindly help  , i salute una all
, just visted investopedia and i am playing around the various RSI graphs at nigeriansecurities , will someone be kind enough to throw more light on why chelleram has been above 70 for this long , its pattern is quite different from other [img][/img]

crazyT:

@ Wanaj0

Still inside the UNIC flight o (economy class) thanks for the Champagne (the hostess gave it to me), I am happy to know you are still holding your first class sit.

It was the drink that makes me hang on, I would have jump out with those Taliban’s at 25% but today we are at 40% and still going strong.  

And the good thing its not one of those earmarked for TS soonest. Check seat number  5F just a couple of seats behind stock marshall wanaj0 in upper business class_{not in first class} there is somebody that looks like me occupying that seat

@tiwantiwa

chellarams has been in the overbought region for a while now. its in high demand still and if u remeber, bros wanajo has been enjoying a solo ride on this illiquid stock for a while now.  . He wont sell any to us lesser mortals.
u'll notice that the price has also consistently remained over the EMAs in the second part of the graph.

now only bigboylarry's crystal ball can tell us for how long it will remain this way sha. the trick is in spotting these trends early.

by the way, how do i post the pictorials on here?

@upward

Yes. Access to Nigerian Stock Exchange cost about 15k last time I checked. Lets you see things in realtime as well. (Easier said than done due to server overload).

crazyT:

@ Wanaj0

Still inside the UNIC flight o (economy class) thanks for the Champagne (the hostess gave it to me), I am happy to know you are still holding your first class sit.

It was the drink that makes me hang on, I would have jump out with those Taliban’s at 25% but today we are at 40% and still going strong.  

Na Long haul flight me dey take. There may be stop over at 7.00 but me no dey commot!! Na final destination I don check my luggage to.

RoughCut:

And the good thing its not one of those earmarked for TS soonest. Check seat number  5F just a couple of seats behind stock marshall wanaj0 in upper business class_{not in first class} there is somebody that looks like me occupying that seat

They will need to make an offer to be able to compete. that na sure banker.

That said, I dey struggle with the pilot now. We entered the same time!!!

aktopgun:

@tiwantiwa

chellarams has been in the overbought region for a while now. its in high demand still and if u remeber, bros wanajo has been enjoying a solo ride on this illiquid stock for a while now.  . He wont sell any to us lesser mortals.
u'll notice that the price has also consistently remained over the EMAs in the second part of the graph.

now only bigboylarry's crystal ball can tell us for how long it will remain this way sha. the trick is in spotting these trends early.

by the way, how do i post the pictorials on here?

Well, me I no know book so no fit do all those una calculations. Na NSE made easy investing me I dey!!!

@ wanajo

i holla. hope u're well. long toime no post abi na me no dey just see ur brakelight.

i will be joining u mid air with my carryon luggage on that Unic flight. since its long-haul i presume say na australia e dey go so wahala.

aktopgun:

@ wanajo

i holla. hope u're well. long toime no post abi na me no dey just see your brakelight.

i will be joining u mid air with my carryon luggage on that Unic flight. since its long-haul i presume say na australia e dey go so wahala.

I dey learn from the guru's so just dey read.

left a message for you on messenger

Well, no be Australia dey underneath the rest of the world na dia me dey go with UNIC and NEM

@kpineo, NBA, etc
please we'll be glad to receive the daily stock position (bid/offer) as you've been doing. You guys have been great, keep it coming.

i see , quite a lot really depends on picking stock , will bury my head inside investopeadia again , i have to learn this thing by fire by force , me sef wan dey occupy first class cabin , , and commandeer the air hottest to serve me extra , .this economy class dey too crowded ,

for the picture
 , right click on the graph @ nigeriansecurities, click save pic and ures as , save the picture on your desktop

here comes  the tricky part

the picture comes as a bmp file and the size is about 1 mb, ( too large for nairaland)

double click  on the saved picture , save it as a jpeg file ( this will drastically reduce the size  <20kb )

if you have microsft office picture manager on your system , you can use it to reduce the size better .

hope this helps

easimoni:

https://www.nairaland.com/nigeria/topic-103844.32.html

Aptistock data is updated

Now I have to work.

Thank you so much easimoni, may you walk and never stumble, for the book wey you dey read, you go dey pass exam well-well.

wanaj0:

Na Long haul flight me dey take. There may be stop over at 7.00 but me no dey commot!! Na final destination I don check my luggage to.

They will need to make an offer to be able to compete. that na sure banker.

That is not imminent or  is it?

aktopgun:

@ wanajo

i holla. hope u're well. long toime no post abi na me no dey just see your brakelight.

i will be joining u mid air with my carryon luggage on that Unic flight. since its long-haul i presume say na australia e dey go so wahala.

So you are the one arguing with the hostess about carryon luggage, bros how you go call 40kg as carryon luggage now?   Mehnn! Next time just checking in the luggage jare! S ;

Dee you in Sydney sha!

, and the last part , click the insert image button , directly below the italic button in the nairaland reply screen , then use attach box to browse for the picture and attach it

wanaj0:

Na Long haul flight me dey take. There may be stop over at 7.00 but me no dey commot!! Na final destination I don check my luggage to.

They will need to make an offer to be able to compete. that na sure banker.

That said, I dey struggle with the pilot now. We entered the same time!!!


Well, me I no know book so no fit do all those una calculations. Na NSE made easy investing me I dey!!!

AND TO THINK I SOLD MY UNIC AFTER MAKING 40%. ITS NOW GONE ON TO DO ANOTHER 40% AFTER THAT. NA WA OOOOO. SO MUCH FOR FUNDAMENTALS