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SOL - classic and hidden divergence on MACD histogram

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Tango
Super Contributor
For the technically-interested.... SOL is currently showing nice clear examples of classic and hidden divergence. The general trend is down, as evidenced by MA's and the lower-lows on the price chart. But from 7/03 to 19/03 while the price was making lower-lows, the MACD histogram was making higher-lows. This is regular divergence and tips us off to a reversal. 20/03 was the reversal, and then we saw a very powerful move upwards. On 28/03 and 29/03 we saw a higher-high on MACD histogram, but a lower-high on the price chart. This is hidden divergence, and indicates continuation. Trend has been down, so gives a good signal that short is the place to be again, the rally is over, and the downtrend is intact. What I'm looking for now is whether the next low for SOL is above or below the previous low at around 215.
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35 REPLIES 35
Not applicable
Yeah, I saw it too Tango. Jumped out yesterday. Going short this morning. Def more downside on this one. Going short.
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Brazen
Super Contributor
Thanks for that Tango. If by any chance you have a chart available, I'd really appreciate an email.
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DCTrader
Super Contributor
What charting program you using Tango? I'm thinking of getting the new ShareMagic Lite...
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Tango
Super Contributor
Using Amibroker 4.9.. very happy with it so far. It's simple, but cheap and works fine. Good if you like tinkering with parameters and indicators
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Not applicable
Second that - Pleased with Amibroker so far, since I bought it earlier this year. Trading levels seem spot on an its quick. I prefer to use less, rather than more gizmos, so I ignore most of the features.
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kr_pto
Super Contributor
I agree re Amibroker. Quite easy with a bit of tinkering to also load history prices (one at a time unfortunately!) from SFM site download. and also to load your daily watchlist to keep prices up to date. so if you wanting to just try it for a while, without paying R100 a month for price feeds, can work nicely.
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bothac_1
Contributor
Where can you buy the software? Thank you
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Not applicable
Have any of you got intraday hooked up to your Ami Broker?Or just EOD? If so what are your delays?
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cfm
Super Contributor
Getting EOD data from Sharenet. Available at 20:00 at night.
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Tango
Super Contributor
I think Sharenet does intraday, but it's only 15m bars, and it fills a separate database to the EOD download. I passed for those reasons.
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Brazen
Super Contributor
Who are the godamned idiots buying SOL. Why don't they just take it down and buy it at 215 forgodsakes. Then I can get my nice pile of cash (alright gravy's pile but who's counting) and drink champagne again.
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Not applicable
can only be the idiots who think that he NEW, HIGHER price of petrol has some influence on the sol share price.
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Not applicable
Down dam you, down!!!!Its like a tug of war at 23300!!
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scandal
Super Contributor
why shouldn't the price of petrol affect SOL? maybe i am missing something?
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kr_pto
Super Contributor
you can trial it for 30 days for free. if you leave it open and dont reboot your machine, the database will stay. if you restart it unfortunately doesnt save database in trial mode. as a thought, may be cheaper to buy over the net, as then no VAT applies? not sure if sharenet price works out more or less with the VAT added, or what the support arrangement is if you buy direct from amibroker. but there email support has been very good thus far.
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scandal
Super Contributor
amglug glug... me thinks like this. SOL is gas to liquids company. As i understand their tech they converts coal to gas (or they import natural gas from Moz, hence the expensive pipeline to Secunda) and then to syn fuels and other by products. Hence the logic seems fairly simple. price of oil goes up, petrol prices rocket and sol makes more money. Price of oil comes down... the profit margin decreases but they still make money. Any takers on my theory?
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john_1
Super Contributor
I get the feeling this little ralley may be squeezing a few shorts!
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CE
Super Contributor
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