Get started

Relativestrength

General Mills - Bearish RS & Trends = Continuation Lower to $37The bearish DailyPlay we chose for Wednesday, May 23rd is General Mills (GIS). GIS is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 1.53% move lower and its 1m and 6m trend turned bearish yesterday and recently bounced lower off its $50 resistance level. General Mills' 1m and 6m trends turned bearish on 4/18 and recently bounced lower off its $44 resistance level. With a technical score of 1 (out of 10), GIS is a weak stock that will likely trend lower. As a stop loss, if GIS was to trade above $44 for multiple days, this would invalidate our analysis and suggest getting out of the trade. OptionsPlay Trade Idea: Buy to Open 1 GIS Jul 20 37.5/42.5 Put Vertical @ $169 - app.optionsplay.com Cost: $169 Max Reward: $331 Max Risk: $169 POP: 40.61% Breakeven: $40.81
NYSE:GISShort
by OptionsPlay
District0x Long Opp-- RSI trading As you can see I've been playing DNT like an absolute fiddle. I see this as a great long opportunity because I still consider DNT undervalued in terms of market cap, and think it has a lot of room for growth. Since its initial pump, it's been staying faithfully within the ascending channel while drawing down between fib levels of resistance. I definitely see DNT remaining in this upward channel for at least until it recoups the initial losses to the ATH, then I will revise this idea accordingly. Not much opportunity to backtest the RSI settings on this one, it's only been on the exchange a week or two. However, I'm looking at the hourly chart with 18 periods in the RSI and as you can see the negative divergence highlighted in red signaled the end of the run. I'm using 24 periods in the STOCH RSI to include a larger time frame, smooth the indicator a bit and provide fewer false signals by accounting for more of the macro trend. When a divergence appears here, it will be more reliable than on the other RSI indicator. Watch for any breaks below the long term trend line in green.
Long
by gagevalentino
Ripple to correct another 20% as bitcoin pumpsRipple is forming support along long term support level (green line U) and also forming a triangle pattern. As bitcoin pumps higher, I suspect diagonal support line 1 will be tested, followed by the 62% retracement, green support line T and the 100 day moving average, followed by support line 2. Touching support line 2 would represent a more than 20% correction. RSI has dipped below its bullish trendline. Lets watch to see if it can rebound off the bearish trendline. Long term bullish on XRP
Short
by FOMONOMO
Crypto portfolio: 1 year performance comparisonHere we can see a few altcoins pitted against Bitcoin, to see how the fiat value of each evolved throughout the year. Investors look at these metrics often, and in this case, it tells us about the relative strength and liquidity, of all these instruments, and potential risks when being invested. ETH started very volatile, but while it was in a positive trend, it was acting well, with a low volatility trend, despite the explosive price movement. During its consolidation it shed a lot of its value, but it's showing signs of risks being behind it, with constructive price action after bottoming recently. Volatility quieted down, both in Bitcoin, and in some altcoins lately, so I'm interested in being invested in this market in particular. XMR and DASH show some promise, but both tend to cater to people wanting to obfuscate their transactions, and thus, might see some kind of risk if the IRS, FBI, or some government is interested it going after the people using it to transact with them. This creates a negative stigma associated with them, although Darkcoin's developer wanted to distance himself, and rebrand the coin lately, I think it's just an excuse to bring it to the limelight again and get more people to buy his creation (he has a gigantic premine, so it's in his best interest). I'm not sure if he's sold all of it yet, but I recall that the masternodes had made these individual a lot of money back in the day. XCP: Too volatile and illiquid to be safe. Some people might be able to trade this, but I'd rather not. Just a good example of how an illiquid market looks. LTC: People still ask me about it, look how it fared, this coin just had a name because it came out some time ago. It fared pretty badly, over a year, and it'll continue to underperform Bitcoin, stay far away. Conclusion: Do your due diligence, as far as charts go, I can read the activity in them if there's sufficient liquidity, if the market is too thin, it's simply not worth it to trade at the mercy of exchanges and manipulators. Also, look at correlation and performance relative to Bitcoin here. Treat it as 'the market', and altcoins as bonds, or smaller companies. ETH is not correlated, and many times anti correlated, so it is a good addition to a crypto portfolio. It doesn't derive its fiat valuation merely from BTC, but underperforming, like the other alts. It derives its value from its particular characteristics. This makes it interesting as well. Cheers, Ivan Labrie.
B
by IvanLabrie
5