Using RSI – the series

I have a stock on my “to fade” list that I have continued to stalk this week and that is $PANL (Universal Display). Although I don’t have a position yet, I thought the Daily chart was a nice clean example of using RSI for an entry.

Here is the Daily chart with 2 areas noted in Red where the RSI touched the 70 level (signals Over Bought):

For now this stock is holding these recent gains very well so I am just an observer. For now …

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