Up 4.6%, while the RSI is still stuck at 29.7—that combination looks awkward, but somehow it makes me feel less worried. $SNDKB is quoted at 942.09, and has been moving between 897.55 and 1,011.1 over the past 24 hours.
In plain English: it fell hard and fast, and the RSI dropped close to oversold territory. Today’s small gain looks more like a breather after a steep decline than a trend reversal. The 14-day low of 790.72 is still below, and 1,011.1 is the first hurdle overhead.
I’d rather sit tight and watch for now, because being oversold doesn’t mean it’ll reverse immediately. But if it can get back above 1,011.1, I’ll change my mind right away and admit this rebound has some promise.
For SNDKB, with an RSI of 29.7, would you wait for it to get back above 1,011.1 before taking another look, or start with a small position now?
#SNDKB #Market Analysis
In plain English: it fell hard and fast, and the RSI dropped close to oversold territory. Today’s small gain looks more like a breather after a steep decline than a trend reversal. The 14-day low of 790.72 is still below, and 1,011.1 is the first hurdle overhead.
I’d rather sit tight and watch for now, because being oversold doesn’t mean it’ll reverse immediately. But if it can get back above 1,011.1, I’ll change my mind right away and admit this rebound has some promise.
For SNDKB, with an RSI of 29.7, would you wait for it to get back above 1,011.1 before taking another look, or start with a small position now?
#SNDKB #Market Analysis