The RSI Buy – the series

One of the stocks I’ve been trading today is SHOO (Steve Madden Ltd). It had a nice bounce off of 40 out of the gate and made it up through the 41 level before hitting the RSI ceiling. After a nice pullback to the 40.35 level the RSI hit the 30 line & buyers came in.

It has had a nice secondary bounce today and is hovering at the 40.70 level at the moment. This is the 5m chart that I was watching today:

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