In Best Stock Charts this week we discuss how we profited last week to the long side by trading “Extreme Oversold” stocks even though the stock market was down nearly 3%. How is it possible to trade the stock market successfully long with the overall market falling? Using historical support and resistance levels to help guage the best risk v. reward entry and exit points. We screen our oversold stocks using the Relative Strength Indicator or RSI.
This week we will review last weeks trades including our 123% profit in Bitcoin (BTC.X) as wall as 6.3% gain in Visteion (VC) and lastly Big Lots (BIG) for a 6.2% gain.
We will also discuss the antitrust investigation by the DOJ into the big tech names such as Facebook (FB) and Alphabet (GOOGL).
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