Originally Posted by
siriusly_invested
Looks like it decided to rebound off of 4.31 and is headed back up, at least for now. I might have made a lucky observation late yesterday when I posted the following comments and chart. At that same time I placed buy order at the 38% Fibonacci Retracement price (4.61), and also at the 50% (4.17).............looks like my first offer has filled so at least I'm in the game.
EDIT: PS. looks like my 4.17 (505 Fibonacci Retracement price) just filled.
Here is a cut and paste of my post from yesterday: (PS, after that post I did verify this stock is significantly in the Overbought region of RSI.........and so the correction happened as I suggested it would.
Denco I'm in the same boat as you, wishing to see a reasonable entry point to ONVO. Congrats to Rad for his fortuitous run so far.
Given the recent advances and volatility, I'll be damn if I can even speculate when to jump in. One school of thought is that nothing can continue to go just straight up; it has to take a breather sometime. It is a shame I cannot find within my charting tools the ability to view RSI..........with the pace this stock has moved in the past few days one would have to think it is extremely overbought. If so, then you would think a correction is in the offing. If I were to trust infinite wisdom of Fibonacci Retracement therefore, I would be placing my entry bucks down around the 50% level at $4.17 (as measured against today's high). One other troublesome indicator I see is that the 50dma is ascending toward the 200dma, lacking only 30 cents or so to form a very bullish Golden Cross. My gut tells me i'd like to have a position in this baby before the GC occurs..............So that's my 2 cents worth.
Here's the chart I'm looking at:
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