New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.
Forecasting or Predicting a Future RSI (14) Reading
Hi Fellow s.c.a.n. members,
I don't know if this question has already been asked or not and I apologize if it has. I was not able to find an answer using the site's 'search' function.
What I am trying to figure out is if there is a formula or calculation that would assist in predicting (approximately) what the price of a given stock would be at a given RSI (14) reading, using as inputs the current RSI (14) reading and the current stock price.
For example, the price of BUD is currently $89.61 and the current Monthly RSI reading is 38.33.
What I am trying to determine is an estimate for the price, approximate price, or approximate range of prices that BUD would be expected to trade at were the stock to read a 30 on the Monthly RSI (14).
I am not sure whether a) this is possible or b) how accurate any forecasts would be, however I think some would agree that if it were accurate this type of calculation could prove useful.
Any help is greatly appreciated.
Thanks for your time.