One of the platinum stocks that has been severely beaten down form the swing highs (-62%).
Its currently working on its 3rd leg down and target zone remains R860-R790 failing which the gate to R626 opens.
RSI is now in deep oversold territory. I will be watching closely to see how price action develops over the next few sessions.
Traders use the Relative Strength Index (RSI) to assess momentum and overbought/oversold conditions. An RSI above 70 suggests overbought, indicating a potential reversal. RSI below 30 indicates oversold, signaling a buying opportunity. Divergences between price and RSI can indicate trend reversals. RSI works best with other indicators and considering timeframe and context for accurate trading decisions.
Its currently working on its 3rd leg down and target zone remains R860-R790 failing which the gate to R626 opens.
RSI is now in deep oversold territory. I will be watching closely to see how price action develops over the next few sessions.
Traders use the Relative Strength Index (RSI) to assess momentum and overbought/oversold conditions. An RSI above 70 suggests overbought, indicating a potential reversal. RSI below 30 indicates oversold, signaling a buying opportunity. Divergences between price and RSI can indicate trend reversals. RSI works best with other indicators and considering timeframe and context for accurate trading decisions.