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Use of TA for switch timing?

Reading price charts which may give you direction in the market using established TA methodology
Newroad
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Use of TA for switch timing?

#361379

Postby Newroad » November 30th, 2020, 10:45 am

Hi All.

I imagine most technical analysis (TA) typically has both what and when considerations. I don't have a what problem, but rather a straight when one.

I've decided what I want to do - a couple of wholesale swaps: WTAN into MNP, MYI into MNKS, in a 0-6 month time-frame. Once done, they will be long term holds. Fundamental analysis and gut feel are not giving me a clear steer on timing within the above time-frame. MYI in particular appears to have had a short term breakout, so there would appear to be a case for letting that run for a bit - less so for WTAN.

I have a theoretic knowledge of TA so don't need the basics explained to me (I hope!) but it's active use has not previously formed part of my investing approach (which has been regular long term investing). I was just wondering how you relative experts in the field might approach answering the question I have - which tool or tools you might choose to employ and why?

Regards, Newroad

Newroad
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Re: Use of TA for switch timing?

#369478

Postby Newroad » December 24th, 2020, 11:03 am

OK then.

That question didn't work well :(

If it's how the question was worded, feel free to say so - and what might be done to improve it. In the meantime, let me try again in a slightly more narrow way.

Does anybody know of an (ideally free) charting tool which can display RS (Relative Strength) between two stocks? I have seen it done stock versus index, but not obviously stock versus stock. Please note, I do mean RS as opposed to RSI.

Regards, Newroad

GoSeigen
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Re: Use of TA for switch timing?

#369518

Postby GoSeigen » December 24th, 2020, 12:43 pm

Newroad wrote:OK then.

That question didn't work well :(

If it's how the question was worded, feel free to say so - and what might be done to improve it. In the meantime, let me try again in a slightly more narrow way.

Does anybody know of an (ideally free) charting tool which can display RS (Relative Strength) between two stocks? I have seen it done stock versus index, but not obviously stock versus stock. Please note, I do mean RS as opposed to RSI.

Regards, Newroad


The only one I know of is IGIndex's Real Time Charts. You'll need to be a customer and regular trader to use them.


GS

Newroad
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Re: Use of TA for switch timing?

#369537

Postby Newroad » December 24th, 2020, 2:21 pm

Thanks, GoSeigen.

I've been looking again at StockCharts.com - their free service seems to be pretty good.

It is perhaps a case of not being able to see the wood for the trees, but their RRG Relative Strength Indicator would seem to fit the bill: https://school.stockcharts.com/doku.php?id=technical_indicators:rrg_relative_strength

Am I missing something?

Regards, Newroad

GoSeigen
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Re: Use of TA for switch timing?

#369556

Postby GoSeigen » December 24th, 2020, 3:17 pm

Newroad wrote:Thanks, GoSeigen.

I've been looking again at StockCharts.com - their free service seems to be pretty good.

It is perhaps a case of not being able to see the wood for the trees, but their RRG Relative Strength Indicator would seem to fit the bill: https://school.stockcharts.com/doku.php?id=technical_indicators:rrg_relative_strength

Am I missing something?

Regards, Newroad


I looked at that but couldn't figure out the maths behind it (and didn't bother to search the documentation) -- if it suits you it's free so go for it!

GS

Newroad
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Re: Use of TA for switch timing?

#369559

Postby Newroad » December 24th, 2020, 3:32 pm

Indeed, GoSeigen.

It's a shame I didn't figure it out earlier. Had I done so, I might well have ...

    Switched from MYI to MNKS around Dec 07th -(1144/1146) & (1306/1358) approx between then and now (opening prices)
    Switched from WTAN to MNP around Dec 09th - (217/219) & (359/364.5) approx between then and now (opening prices)
based on the RS Momentum indicator crossing 100.

However, I'm no expert on such things and may not have had the courage to back such an indicator at that point in time. All good for learning though and something for me to keep an eye on going forwards with respect to timing.

Regards, Newroad


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