RE: Day trading ... luckyguy Hey Larry,
MACD is a great tool as well. But you have to tweak it just a little to respond faster than the standard set-up. Change the set-up to 5,15,9 and see if you can identify key tops & bottoms.
For ref., anything both MACD lines are above zero, it means stock is in BUL TREND. Under zero = bear.
But from my exprience, I found stochstics to be the fastest indicator. I read all my TA via the world wide web. And then observation and trial and error. Eventually, I started changing the set-up of this [and every other] indicator until I can actually see key reversal points.
For stochastics, I use BOTH slow & fast on top of each other. Stock wil fall as long as they both point south. Oncethe fast one turns, you get a reversal flag. Once the slow one follows, you get reversal confirmation. And even there, I use my own set-up of 14,4,5 instead of teh standard.
Support and resistance lines are best read using daily average [18/40, 20/50]. As long as 18 under 40 = bear trend. 18 above 40 = bull trend. This I have learned from a book called the magic of Moving average by Scott Lowery.
Finally, see if this chart link helps.
https://www.pcquote.com/stocks/chart.php?ticker=rimm&dur=20d&freq=60&type=4&vol=1&indicator=8%2C5%2C15%2C9%3B32%2C14%2C4%2C5%3B31%2C4%2C3%2C3%3B20%2C14%2C14%2C%3B15%2C20%2C2%2C%3B3%2C7%2C%2C%3B3%2C18%2C%2C%3B3%2C40%2C%2C&startMonth=1&startDay=6&startYear=2005&endMonth=2&endDay=3&endYear=2005
Cheers... D2