Quote Originally Posted by siriusly_invested View Post
Rad, I saw your suggestion that we convene here with this ONVO talk. I also felt your frustration with that drastic drop this morning. While I am certainly no chart guru, here's one simple lesson you might appreciate when watching such volatility. In my attached chart from stockcharts.com, at the top you will see what is called RSI (Relative Strength Indicator)...........Any trace below 30 means the stock is oversold, trace over 70 is overbought, and between 30 and 70 is neutral. Note that each time the RSI shows overbought the stock price goes down. Yesterday showed very heavily overbought so my gut told me the price was soon to fall. Further, I applied the Fibonacci Retracement tool which indicated the normal 50% retracement would be to 4.17. Maybe I was lucky, but I placed buy orders at 4.17 and also at 4.61 which is another high probability retracement indicator at 38%. Check out the chart below and let me know if I might help start you on a basic understanding (which is the level I am at).
Very good, amazing how it works. Thanks!
Your 4.17 was a VERY good in, at least in the short term.
I am glad it took this little breather, hopefully it can march forward now.