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Overbought

IOTA Gann Fan + Trend Analysis - SHORTIOTA was Overbought twice in a short period of time. There will be heavy volatility in the near future, and market consolidation is to be expected. Given the current trends, I personally believe that shorting IOTA would be the best choice here. The price is nowhere near a 1/1 retracement, and is showing little signs of a reversal into a bullish trend in the (very) near future. Also, with all the other coins I took a look at, it looks like a correction is imminent across the board. Be cautious! I'll take a look back soon to help confirm/deconfirm what is being shown right now, but it's not looking too good.
BITFINEX:IOTUSDShort
by yeeyee2020
4
BTC correction idea for this monthSo a correction is in play now, and BTC likes to do 30-40% corrections in this runup since the end of 2015. This woul coincide with the middel 1d bollinger band, and would allow the 1d stoch RSI to cool down again from overbought levels to oversold levels. This would lead to an exceptional entry point within the next few days to go long. However, I strongly advise against shorting, because there is a not so low probability that BTC will just continue the rally on monday, and the full correction will not play out. This is a scenario to which I attribute a probability of about 60-70%. Since BTC is in ultra bull mode, the whole correction might not even come to pass. However, the indicators say that it is quite possible, so I will position myself accordingly, as this would be a perfect entry for a new long position. The next days/week till the 18th, and on the 18th especially, might show some insane volatility, so be careful :)
BITSTAMP:BTCUSDLong
by SebastianofMoon
Illinois Tool Works (ITW) Will Drop At Least 3 Percent SoonIllinois Tool Works Inc has been trending up for more than two years. As the stock moves up, it naturally cycles up and down maintaining its upward bias. Some technical indicators are displaying major signals that the stock will soon drop. The relative strength index (RSI) is at a rarely observed extreme level; a combination of indicators also point out trouble on the horizon. The stock will most likely continue its upward trend over the long-term; but this next natural cycle down could impact investors. How bad will history repeat itself? The RSI is at 84.5283 and tends to determine trends, momentum, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. The RSI is currently overbought and is at one of its highest levels ever. It can only take the stock down from here. The positive vortex indicator (VI) is at 1.1854 and the negative is 0.6629. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. The opposite is true when the negative is higher. I have created an algorithm (called the SAG gauge) which signals when stocks are truly overbought and oversold. The algorithm indicates when a particular stock meets multiple criteria culminating in an oversold or overbought signal. The overbought signal recently occurred and could occur again over the next few days. Seeing the other signs of a downturn, proactively positioning short for the stock's decline prior to seeing this verifying signal could increase profits. Upon back-testing this indicator, it has signaled overbought status 104 times dating back to 1980. The stock drops at least 1.75% over the following 35 trading days in eighty percent of these occurrences. The stock drops at least 3% seventy percent of the time and forty percent of the time loses 5.75%. Even though a drop does not always occur, these numbers combined with the following statistics have instilled confidence that a greater than 2% drop is looming. The RSI has been at or above its current level ONLY seven times in the history of this stock. The stock always drops over the next 25 days with a minimum drop of 0.93%, median decline of 2.52%, and average drop of 4.58%. Only one other time since 2000 was the RSI and positive VI at or above today's level at the same time the stochastic oscillator was overbought with the earnings call three days away. The stock dropped 5.21% over the following 14 trading days on that occasion. The technical indicators for this stock have been in the same or more extreme positions simultaneously only three times in the history of the stock. These all occurred more than 30 years ago. The minimum drop was 9.33% over 16 trading days while the median was 12.82% over 33 trading days. Although not identical to the current technical readings, ten similar instances saw the RSI close to today's 84 reading while the positive VI was at or above its current position, the negative VI was at or below its current position and the stochastic oscillator was overbought. On these occasions the stock dropped at least 4.49% and saw a median loss of 9.72%. Another odd thing has just occurred regarding the positive VI value. It was recently above its current 1.18 level before it dropped below 1 and moved back above 1.18. Although a move like this is normal, the positive level never crossed below the negative VI level. This similar movement has only occurred on five occasions. The minimum loss for the stock was 7.34% and the median drop was 8.50%. It is clear the stock will drop at least 3% over the next 40 days after taking all of this historical information in to consideration. I would not be surprised if the stock lost greater than 5% over this time period. The RSI for the stock is at one of its highest recorded levels ever which indicates there is only one direction for the stock to move. More at LimitlessLifeSkills.com
NYSE:ITWShort
by StockSignaler