RSI or relative strength index measures the speed and change of price movements in the underlying stock, we can use this to evaluate if the stock is overbought or oversold and aid us in our trading strategies The values of RSI and what they mean The RSI move between 0 and 100. Typically the RSI indicates that a stock is considered to be overbought when it is above 70 and oversold when it is below 30 This number is open to adjustment depending on each characteristic of each individual stock, if the RSI of a stock is repeatedly over 70 over let's say a week, we might want to adjust this to 80 as a resistance level In a bull market, the RSI tends to remain in the 40 to 90 range however during a bear market the RSI will usually stays between the 10 to 60 range.  If the underlying stock pr

News just came in that PCAOB, public company account oversight board set up by the US government to oversee audit of US public companies has just been given full access to inspect and investigate financial records of China companies listed in US Great news for NIO, BABA, PDD, BIDU This is major news because is the first time in history that China allow audit papers to be taken out of China for inspection, following through on the agreement signed back in August. I think this greatly reduce the risk of China companies listed in US being de listed although another major factor will be the discrepancies if any found in the audit papers. Nonetheless this is yet another great news after China begin to open up their country after relaxing covid19 restrictions. Thoughts I believe C

Elon Musk just launched a poll to ask if he should step down as head of Twitter, this is after taking much heat from the recent banning of accounts that dox live location of other's including himself and also demand from Tesla shareholders accusing him of abandoning work at Tesla Thoughts Shareholders of Tesla probably would rejoice if he is to step down as he had got himself into this discussion on controversial issues on Twitter which not just divided opinion of him but also has hurt Tesla's brand and share indirectly.  Telsa share fell 20% last week, one of the biggest drop in recent time was also partly due to Elon selling 3.5 billion of Tesla shares likely to fund day to day operations of Twitter.  He bought Twitter in o

Probably the most edgy earning call for a very long time. Wall Street is expecting EPS of $1.15 and a revenue of $24.24 billion More questions than answers The recent run from $100 to $140 is great news for Tesla shareholders but it will be short lived if many issues that surfaced recently or issues that exist for sometime remain unanswered or is given an unsatisfactory answer. Questions I hope can be given a satisfactory answer in this earning calls would be What is the timeline for cybertruck production, specification and pricing.  We have been teased for many years on the release Tesla Cybertruck only to have it delayed on multiple times. 2023 looks set to be the year we can get our hands on Cybertruck although no specific date is announced yet. With the release

Earlier this morning, Elon Musk made a surprise appearance at Twitter space(live audio conversation) hosted by StockMTKNewz where he answered a variety of questions including current macro environment and tesla progress. Not selling anymore Tesla shares until 2025  Specifically he comment that he won't sell anymore tesla shares until 2025 and that the recent selling was to get some dry powder in case things got bad for Twitter.  "I will not sell stock until at least two years from now. certainly not next year under any circumstances" I thought this is great news for Tesla shareholders as we already experienced the negative effect on Tesla share price whenever he start selling shares, more specifically a few months back when he acquired Twitter and also th

Came across a chart showing how unique 2022 is for investors, only two other years, one in 1931 and the other in 1969 resulted in both stocks and bonds having negative return. We came off a peculiar event in our history that is the pandamic now, where the FED step in and took extreme steps to greatly ease their monetary policy preventing a financial collapse of the world economy. Every decision has a cause and effect and the actions taken by the FED has resulted in many adverse effect and the major one being rampaging inflation we are seeing now. I just want to give a shoutout to my fellow investors to stay on course, not quitting and don't be disheartened if your portfolio is down this year. Let's take this opportunity to seek out great companies that has fallen to reasonable valuation an