I think we already know that; the RSI level does not count much in a strong uptrend.
It can stay above the 70 RSI line longer than you think.
We can take Snapchat as a perfect example. Unfortunately, I sold them before the earnings report.
I am not saying that CHGG will also jump 40-50% on positive surprise, but in this case: we have to ignore the presence of the RSI indicator for a shorter period of time until the momentum weakens.
Trade safe and check my related ideas!
It can stay above the 70 RSI line longer than you think.
We can take Snapchat as a perfect example. Unfortunately, I sold them before the earnings report.
I am not saying that CHGG will also jump 40-50% on positive surprise, but in this case: we have to ignore the presence of the RSI indicator for a shorter period of time until the momentum weakens.
Trade safe and check my related ideas!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.