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SCTR rating for AMD

skgwiusskgwius ✭
in Other StockCharts Questions
this stock has broken 8 and 21 days SMA and about to touch 50 day. yet the SCTR rating is 99.99 for this stock. can somebody explain why it is so high?

Comments

  • markdmarkd mod
    The SCTR rating system is explained here. It incorporates several time frames:

    https://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:sctr

    I would guess AMD retains its high ranking because the increase before the recent decline outweighs the drop in the calculation. That is, AMD advanced a lot more than its peers, so the decline still leaves it ahead.
  • skgwiusskgwius ✭
    but what about the declines that is most recent that it lost all its momentum and 8&21 day average. many institute consider not buying a stock for short term if the short term averages are breached. Tom bowley and Erin only considers top 10 stocks which are above 8 and 20 day so is 99.9 SCTR rating justified or there is a need to tweak it?
  • markdmarkd mod
    Well, no indicator is going to serve everyone's needs at all times. A static formula cannot account for each of the infinite variety of price patterns.

    As the chart school article says,

    "As with all technical indicators, SCTRs are designed to be used in conjunction with other indicators and analysis techniques. SCTRs are not designed as stand-alone indicators."

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