Buylo got long the India ETN [[INP]] and asked for some analysis.
Overall, INP looks like it has put in an intermediate term bottom. If I were long here, I would be looking for the run to continue to $75, where I would want to take some or all of my profits. I believe INP will encounter resistance at the 200 day.
Before I would buy INP here, I want to see a pullback, possibly to as low as the 50 day average at $58.00. At the very least, I want to see some of the overbought worked off the RSI2 before buying.
Note the bullish divergence in the MACD in June and July. That is one of the best ways to use the MACD, in my opinion. Also note the great volume at the bottom, the huge money flow, and the series of higher highs and higher lows.
chit! gotta get that RSI2 stuff into my head better, we’ll see how it works out – thanks woodrow
Buylo, don’t let that RSI2 reading bother you too much. It could stay overbought for a long time. It also could pullback, and then resume the uptrend, which is what I think will happen.
Wood. Nice anal of INP. I’d add this: That 50 DMA is headed down (like Becky Quick on my meat whistle). I personally don’t put much stock in pullbacks to that while it’s headed south. I agree wholeheartedly (wholeheartedly, gay…) about the MACD. The divergence is all I consult it for. When that the RSI are divergent from price, the shit is about to get good.
Oh, and I already told you once, Money Flow anal is way gay. You’re wasting your resources with it.
Silly. Take another gander, it has $90 written all over it.
Junk, as I mentioned before, I’m trying to find a third indicator to complement the rsi and MACD. The only way for me to really get the feel for how something works is to use it, watch it, and test it. Sorry you don’t like CMF, but I’m gonna keep messing with it anyway.
Did Fly really just say “take another gander”?
silly you, actually its 90.72 says so right on the top right corner of woody’s chart!
Hey Fly. Can you dial up the Time Masheen and tell me how high AFAM is going to go so I can get out at the tiz-op?
My two cents:
RELIANCE (NSE) doomed
INFY (NAS) +10%
ICICI (BSE) DOOMED
HDB (NYSE) **DOOMED!!
David Lee Roth: Going down?