I think we already know that; the RSI level does not count much in a strong uptrend.
It can stay above the 70 RSI line longer than you think.
We can take Snapchat as a perfect example. Unfortunately, I sold them before the earnings report.
I am not saying that CHGG will also jump 40-50% on positive surprise, but in this case: we have to ignore the presence of the RSI indicator for a shorter period of time until the momentum weakens.
Trade safe and check my related ideas!
It can stay above the 70 RSI line longer than you think.
We can take Snapchat as a perfect example. Unfortunately, I sold them before the earnings report.
I am not saying that CHGG will also jump 40-50% on positive surprise, but in this case: we have to ignore the presence of the RSI indicator for a shorter period of time until the momentum weakens.
Trade safe and check my related ideas!
