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The level of the RSI is a measure of the stock's recent trading strength. The slope of the RSI is directly proportional to the velocity of a change in the trend. The distance traveled by the RSI is proportional to the magnitude of the move. Wilder believed that tops and bottoms are indicated when RSI goes above 70 or drops below 30.
The concept of RSI emerged in 1978 in J. Welles Wilder, Jr.’s book, “New Concepts in Technical Trading Systems,” with the aim to help understand whether a stock was overbought or oversold.
Barron's (July 1984) stated that: "In 1978, the basis of mathematical analysis was expanded when J. Welles Wilder, Jr. published New Concepts in Technical Trading Systems. Financial World (July 1985) said that, "Over the years, Wilder has developed more accurate commodity trading systems and concepts than any other expert."
Tharp, Van K. Definitive Guide to Position Sizing International Institute of Trading Mastery, 2008. ISBN 0935219099; Wilder, J. Welles. New Concepts in Technical Trading Systems. Trend Research, 1978. ISBN 0-89459-027-8; Ladis Konecny, Stocks and Exchange – the only Book you need, 2013, ISBN 9783848220656, technical analysis = chapter 8.
Relative strength is a ratio of a stock price performance to a market average (index) performance. [1] It is used in technical analysis.. It is not to be confused with relative strength index.
By a number of measures, the S&P 500 is clearly trading at historically high valuations. ... Apple, Cisco Systems, Microsoft, and Nvidia. The Motley Fool recommends the following options: long ...
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