Down 14.3%, and oddly enough, I feel less panicked. $SNDKB is quoted at 864.11, and the RSI has already fallen to 28.1, not far from the 14-day low of 794.03.
The drop has been sharp and relentless, so in the short term it does seem a bit oversold. But being oversold doesn’t mean the decline is over. If 794.03 breaks, that’ll be a new 14-day low, and there’ll likely be far more panic selling than we’re seeing now.
I’d rather wait for confirmation than rush to buy the dip: the RSI can stay oversold for a long time, and jumping in early could mean catching it halfway down. But if it can hold around 794.03, I’ll change my view—that would look more like the decline is running out of steam.
With it this oversold, do you believe in a rebound, or in the trend?
#SNDKB #TrendAnalysis
The drop has been sharp and relentless, so in the short term it does seem a bit oversold. But being oversold doesn’t mean the decline is over. If 794.03 breaks, that’ll be a new 14-day low, and there’ll likely be far more panic selling than we’re seeing now.
I’d rather wait for confirmation than rush to buy the dip: the RSI can stay oversold for a long time, and jumping in early could mean catching it halfway down. But if it can hold around 794.03, I’ll change my view—that would look more like the decline is running out of steam.
With it this oversold, do you believe in a rebound, or in the trend?
#SNDKB #TrendAnalysis