This is the 60 minute chart for SRZ. The first hour’s black candle looked ominous, failing the 20 day ma test. Then it bounced on the gap support/previous day high. But the oscillators were overbought: at the dashed vertical line where it just cleared the 20 dma again, the RSI was 72.54, and the STO was 80.43. Does it matter? Apparently not. From there, SRZ rallied another 5.3%!!! The oscillators are overrated. When overbought, yes, exercise caution but don’t make preemptive exit without a breach of some support that you track. Yes, you will lose some greens when the trend reverses, but unless the price reached your risk/reward target, you should let it run while protecting the profit via trailing stop or some support such as the 20 ma on the 5 minute chart also shown below.
This bounce reached right at the 50% Fibonacci retracement level on the daily chart, so some flagging is very likely. The daily chart looks great. So after the 60 minute chart works off its overbought conditions, it’s likely to continue to 11.50 area before another pause. I’m currently holding long positions in SRZ.