My flow of analyzing charts is:
- Confirm that EMA 20 > EMA 50
- Looks for patterns on line charts of closing prices.
- Look for special candle patterns.
- If (2) and (3) do not work out, then have a look at ADX(14 or 20 days) and RSI(14 days). If the stock in oversold or near-oversold, look if ADX>20.
- If there looks anything profitable, targets are calculated.
You can see my picks for picks for
today.
I do not rely much upon MAs because they are lagging indicators.
BTW: I had told Savant Sir sometime back that I was writing a software to track picks. The software is half-done. The above pick list is a part of that software. Will release it when done.