Setups that are still in play and offer an opportunity to trade.
There are many stocks that are oversold on the monthly RSI and have historically bounced dramatically from there.
Rolls Royce is a prime example.
General Electric is another one i’m keen on.
Singapore Airlines if you believe chart laws are stronger than the covid scare.
The top image is an index. The bottom image is an actual stock within that index.
Bank stocks as a whole are projected for one more leg down, the 5th wave of an elliot cycle.
IF it plays out as projected a buy zone could be coming up.
Monitor these charts on Tradingview.com
It’s a similar story with commodities.
When the index hits a new low i’ll be looking at trading commodities like coffee, platinum and natural gas
This is a graph of the ratio Platinum/Palladium price. It’s made a new low which means a new cycle and rebound could be around the corner.
To trade this you would be buying platinum while selling an equivalent lot size of palladium. This is a more advanced trade and you can get burnt if you don’t have experience with the calibrating.
You could wait till the commodity index in the above pick hits the buy zone then execute this trade