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What's your favorite technical analysis tool and why do you like it?
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Technical indicator 📈

There are many technical indicators can be used in stock analysis and the best indicator will depend on the investment goals and risk tolerance.
My favourite technical indicator is SAR+RSI. The parabolic SAR works well for capturing profits by entering the trade during a trend in a steady market. This is important for determining an asset's price direction as well as drawing attention to when the price direction changes. This SAR tracks price movements and enables the investor to capitalise on profitable trends. It also indicates an exit point when the price may be reversing.
When you need to buy, SAR jumps on price and starts dots in the upward direction. From lower to upper, the RSI (Relative Strength Index) must close above the 50 level. When it is time to sell, the price of the SAR rises and the dots begin to move downward. From upper to lower, the RSI must close above 50.
When the dots on the RSI are below the price candlesticks, it indicates a bull market and investors should look for opportunities to place buy orders. Meanwhile, when the parabolas are above the price candlesticks, it indicates that the market is in a bear market, and investors should look for opportunities to place short sale orders. In general, we should buy when the dots move below the price bars and sell or short-sell when they move above.
It’s important to note that technical indicator is just one aspect of stock analysis, and should not be relied on solely. We will need to consider fundamental factors such as the financial background of a company, macroeconomic factors, and industry trends in making investment decisions.
DYODD!! CheerleadCheerlead
Demonstration of SAR and RSI on Tesla Stock
Demonstration of SAR and RSI on Tesla Stock
Notes:
Uptrend: When the dots are placed below the price
Downtrend: When the dots are placed above the price
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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