Boiler Room: The Official Stock Market Discussion

[ill]

which platform do you use for the tech analysis charts ?

You can literally use any. Almost all platforms have tech analysis. The key is finding out which metrics matter.

For instance, if you are a short-term swing trader, you're going to look at the daily charts, the 5min charts, and your tech analysis will be based off weekly and 20 day simple moving averages and where your stock is in relation to that line.

If you're a long term trader, you're going to look at the monthly and yearly charts, etc. You would use the 200-day moving average now instead of the short term 20 day ones.

Thats a very simplistic view but thats how you start to look at it.

So in this example, the blue line is the 20-day moving average. It is basically a "support" line for the stock meaning at the blue line, people are willing to hold the line and buy up stock. So every time the stock drops and touches the blue line, people buy it and it bounces back (in most cases). Now, this situation "holds the line" for a while. That means the support is fairly strong. However, you see that towards the end, it drops significantly. So while the blue line provides support, if it FAILS, then the drop is significant because now it has no level of "support" as we blew past the blue moving average line. Same works for the opposite scenario. If we were below the line and then it broke up above it, its called a "break out" and now the stock has plenty of room to run and gain upwards since theres no "ceiling" to it on the tech charts.

 

[Serious]

Agreed, my goal was to increase my intitial investment of 7K to 10K through penny stock investing, but I may need to reconsider my strategy.

Thankyou

Just put the 7k into Tesla for a month

 

[Ya?]

You can literally use any. Almost all platforms have tech analysis. The key is finding out which metrics matter.

For instance, if you are a short-term swing trader, you're going to look at the daily charts, the 5min charts, and your tech analysis will be based off weekly and 20 day simple moving averages and where your stock is in relation to that line.

If you're a long term trader, you're going to look at the monthly and yearly charts, etc. You would use the 200-day moving average now instead of the short term 20 day ones.

Thats a very simplistic view but thats how you start to look at it.

Thanks

 

[mannyrs13]

Got a tragically funny story to share. So just earlier I'm just chilling and see mention of some stock called IDEX. I see it around $1.50 and I look and I have like $1700 to play with in my roth ira. So I'm like fukk it I'll get 1000. So I check on it and see I'm up like $100. I'm like damn maybe this thing can go to $2 or higher and I'm up already for the day. So I say, let me get some in my other account where I have more money available. So on fidelity it tells you the ticker symbol and the name of the stock next to it. I search and I click on idex. That shyt says $150. I'm like oh shyt, did I just experience the greatest come up of my entire life? I look again and it's IEX which is a company called Idex. The IDEX stock is completely different. I've never gone from to so quick in my life.

 

[Ya?]

Just put the 7k into Tesla for a month

isn't it overvalued or d you believe there is still room to grow?

 

[Serious]

isn't it overvalued or d you believe there is still room to grow?

Tesla is expected to hit almost 4K as a stock.

 

[BreezyH]

I agree - a penny stock thread would be beneficial to separate from long term growth.

 

[Majestic]

Just put the 7k into Tesla for a month

This.

Tesla
LYFT
UBER etc

will get you the money you need

 

[FabTrey]

why yall still holding XSPA brehs? i took L and sold it. it's not worth keeping shytty stocks.

 

[Majestic]

isn't it overvalued or d you believe there is still room to grow?

 

[Ya?]

I come to you humbly, I am legit asking. Ill be the dummy asking the silly questions cause others are also learning.

 

[Ya?]

Tesla is expected to hit almost 4K as a stock.

Based on who and what? I am reading some more on them. Thanks!!

 

[ill]

Thanks

Np. i added an image/example so you can visually see what I'm describing.

 

[Majestic]

I come to you humbly, I am legit asking. Ill be the dummy asking the silly questions cause others are also learning.

no it aint. broke 1000 a few days ago and is hovering over it. should be 3000 - 4000 in th future. if could afford tesla I would buy a shyt load of it. In fact, tesla would just be my only stock tbh. I'm upset I missed it when it dropped to 360. oh well.

 

[Ya?]

I appreciate the assistance and the advice given.