ERIELooks like a lot more downside is possible. Play it for a dead cat short-term if you're bullish.
ERIE
ERIE being eerie! RSI analysisERIE's chart seems to work on overbought levels. The chart mark the levels where the RSI is overbought, and when it goes back to under 70. Using these as signals have worked well in the past; of course past performance is no guarantee of future results; and Implied Volatility is over 400% higher.
OBV has stayed in its upper channel ( Bull )
200sma is working as strong resistance, marked in-chart. ( Bear )
Keeping on a watchlist.
ERIE is a non-stop Bull. againI haven't seen a chart like this.
Overbought conditions tend to go to extremely high levels. ( RSI<30 oversold & RSI>70 overbought).
Technical Analysis:
I see a positive divergence between the bull rally from February (marked in the chart) and this June bull rally, is that the OBV is 50% higher!
RSI(10) @89, last rally ended on RSI(10) @94.
Check out the chart for more information.
