TJL Chart- - - 02-05-2014

[SRIAS]

More on
http://sriastechnical.blogspot.com/2014/05/tjl-chart-02-05-2014.html

[කිත්සිරි ද සිල්වාTop contributor]

RSI above 70.
Does that means Get out ?

[SRIAS]

RSI above 70.
Does that means Get out ?

overbought is used to describe a share price that has advanced to a point at which, historically, it has tended to reverse and move lower.

[NuinthTop contributor]

Thx SRIAS.

Guess still trend is good with strong buying. But better to keep in touch with market movements.

[කිත්සිරි ද සිල්වාTop contributor]

I just looked at the RSI on Direct FN and it shows 53.91.
Wondering which one is accurate as the this shows downward trend already.
Can someone enlighten us here please?

[කිත්සිරි ද සිල්වාTop contributor]

" />

[iham77]

My direct fn shows 78.16   

[කිත්සිරි ද සිල්වාTop contributor]

So, which is to be taken as correct and is there any other source that we can verify this?

My direct fn shows 78.16   

[Ethical TraderTop contributor]

I think all these readings depends on your individual settings of the chart. If you have different settings you get different readings. Best thing is to consult the IT ppl of your broker.

[SRIAS]

" />

කිත්සිරි ද සිල්වා RSI normally calculated by period of 14.

When your checking with 6 days chart u will get different figure.

RSI figure will change for daily,weekly,monthly and yearly chart.

[Lux2014]

RSI above 70.
Does that means Get out ?

overbought is used to describe a share price that has advanced to a point at which, historically, it has tended to reverse and move lower.

Please correct me, if I'm wrong.

I have read somewhere that we can afford to ignore an over-bought situation to some extent, when there is a clear bullish trend for the stock. I assume TJL is on an uptrend as it has achieved a high recently.

[Ethical TraderTop contributor]

RSI above 70.
Does that means Get out ?

overbought is used to describe a share price that has advanced to a point at which, historically, it has tended to reverse and move lower.

Please correct me, if I'm wrong.

I have read somewhere that we can afford to ignore an over-bought situation to some extent, when there is a clear bullish trend for the stock. I assume TJL is on an uptrend as it has achieved a high recently.

You are absolutly correct, because RSI is only a tool which uses past data. It canot read the future or general investor sentiment. All technical tools give signals but we must be able to use them with other background data and general investor sentiments. Tools are usefull but we should not blindly follow them.

[SRIAS]

RSI above 70.
Does that means Get out ?

overbought is used to describe a share price that has advanced to a point at which, historically, it has tended to reverse and move lower.

Please correct me, if I'm wrong.

I have read somewhere that we can afford to ignore an over-bought situation to some extent, when there is a clear bullish trend for the stock. I assume TJL is on an uptrend as it has achieved a high recently.

Lux2014 I just gave my prediction.

I also mention there "If the volume reduce in coming days pull back will occur."

[Ethical TraderTop contributor]

http://investorsentiment.forumotion.net/t645-11-rules-for-anyone-who-uses-charts#3406

[Lux2014]

Mr Srias,

Thank you for your input.

If this is not a tall order, can I ask you this pl? -- If volumes hold, how high can we expect TJL to go?

[marusira]

Mr Srias,

Thank you for your input.

If this is not a tall order, can I ask you this pl? -- If volumes hold, how high can we expect TJL to go?

18.50-19

[SRIAS]

Mr Srias,

Thank you for your input.

If this is not a tall order, can I ask you this pl? -- If volumes hold, how high can we expect TJL to go?

If volume maintain close to 1.5 mn each trading day,Stock can go Rs.2 up from current point.

[Lux2014]

Thanks a lot Mr SRIAS and Mr Marusira.

[CSE.SAS]

Mr Srias,

Thank you for your input.

If this is not a tall order, can I ask you this pl? -- If volumes hold, how high can we expect TJL to go?

If volume maintain close to 1.5 mn each trading day,Stock can go Rs.2 up from current point.

I don't think TJL can go Rs.2 more.

[Lux2014]

Another "community driven site" has predicted TJL to go up to 25/=.

[BackstageTop contributor]

Another "community driven site" has predicted TJL to go up to 25/=.

Is it a "commu-nuty " driven site ?   

[CSE.SAS]

Mr Srias,

Thank you for your input.

If this is not a tall order, can I ask you this pl? -- If volumes hold, how high can we expect TJL to go?

If volume maintain close to 1.5 mn each trading day,Stock can go Rs.2 up from current point.

SRIAS as you said TJL had 2.9 million volume and price touched 19 rupees

[CSE.SAS]

Some one manipulating the TJL oder book.

Around 10 am only 143,00 buyer

In 5 mins following buyer came at following pricce.

250,000 @ Rs.18.50

100,000 @ Rs.18.30

100,000 @ Rs.18.30

and

200,000 @ Rs.18.00.

Be aware of this stock.

[Lux2014]

What could be their intention? To drive it down?

[CSE.SAS]

What could be their intention? To drive it down?

now see the TJL order book.