WFC is on my buy list for Monday; 5 eMA crossed 14 MA on 4.17.24, MACD crossed signal line on 4.19.24 and is above the zero line, and RSI broke the 50% line on 4.16.24 and is overbought at 71 (my only concern). Price action has had higher opens since 4.16.24 on higher volume each day particularly the last two days, a buy signal. I am also looking at KDP and my only concern is that it's trading below the 200-day MA but is above the 50 and 150-day MA. Positive signs though include: higher opens and higher volume each day since 4.16.24.
The focus is on major indices, price action, and key support and resistance levels. Is that where we should be looking ? Ii it time to step back and consider things like changes in the 10 year yield, 3 and 6 month inflation rates, and the money supply for direction to trade?
WFC is on my buy list for Monday; 5 eMA crossed 14 MA on 4.17.24, MACD crossed signal line on 4.19.24 and is above the zero line, and RSI broke the 50% line on 4.16.24 and is overbought at 71 (my only concern). Price action has had higher opens since 4.16.24 on higher volume each day particularly the last two days, a buy signal. I am also looking at KDP and my only concern is that it's trading below the 200-day MA but is above the 50 and 150-day MA. Positive signs though include: higher opens and higher volume each day since 4.16.24.
Thanks again for this reply.
The focus is on major indices, price action, and key support and resistance levels. Is that where we should be looking ? Ii it time to step back and consider things like changes in the 10 year yield, 3 and 6 month inflation rates, and the money supply for direction to trade?