How to Determine Oversold Stocks: Option Weekly Strikes
This tutorial is only applicable for "short-term trade" or day trade or not more than 5 days holding. Trading is very complex and it is vital to focus on each strategy.
How do you determine or assess stocks be into oversold category or condition?
- Pull the daily time frame. Input your own technical style or indicators, as for me very simple the Daily moving average in 3-time frames - 20, 50 & 200, then the RSI
- Assess the sector or its peers, then compare.
- Establish the support levels, your target entry, and your target exit.
See YouTube Video: https://www.youtube.com/watch?v=DMWmk50YNrI
The GOOGL chart here is my real-time alert on the paid website. Examine the annotation and see the simple reasoning behind the Oversold category trade assessment.