The first sign of possible trouble arose in August, when Facebook stopped outperforming the S&P 500 and could only match the benchmark's performance, as indicated by its flat relative
price strength line in the stock chart below.
Not exact matches
When the relative
strength line is outperforming the
price action of the stock (or the Nasdaq Composite in this case), it is a reliable bullish signal that often precedes further gains in
price.
«Bitcoin
price staged a strong rally to break past the short - term channel top and aim for the longer - term resistance... Buyers are taking control of bitcoin
price action... Moving averages are in
line with the 4 - hour bullish channel support at $ 610, adding to its
strength as a floor.
The relative
strength line does not confirm the
price, as it stops well shy of the prior high.
The relative
strength line used here is calculated by diving the
price of $ NEWR by the
price of $ SPY.
But what we're really looking for is the relative
strength line to rally to new highs ahead of the
price, which would offer a valuable clue that the stock is quite strong.
The relative
strength line finally confirms the
price action here, as the
line has moved in step with the
price action and has actually outperformed, making a «higher high» at point «C» ahead of the
price.
On the weekly chart of $ NEWR below, the top half shows the
price action of the stock, while the bottom half shows the relative
strength line:
Behind these funds» impressive performances so far this year are a few different story
lines: historically low volatility in the U.S. stock market; a mind - boggling rally in bitcoin
prices; a forging recovery in emerging markets; and across - the - board
strength in the tech sector.
In recent weeks, one very interesting thing we have seen is the bearish divergence between the
prices of the main stock market indexes versus their corresponding relative
strength (RS)
lines... [read more]
This data also forms the basis for the Relative
Strength price charts found on each industry page in the Value
Line Investment Survey.
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The bulls will have to negate the
price downtrend, meaning a move above trend -
line resistance at $ 48.00, to gain some technical
strength to then suggest sideways to higher
price action is forthcoming.
They had pared back in competitive
lines, and were expanding in
lines where
pricing was showing some
strength.
«Bitcoin
price staged a strong rally to break past the short - term channel top and aim for the longer - term resistance... Buyers are taking control of bitcoin
price action... Moving averages are in
line with the 4 - hour bullish channel support at $ 610, adding to its
strength as a floor.
But the
strength of the Echo range, especially at the lower
price points, still makes these top - of - the -
line models a harder sell.
Despite the bullish
price - relative
strength index (RSI) divergence and bullish
price - stochastic divergence (marked by dotted
lines), BTG is still stuck inside the falling channel.