I have traded for a few years now but mostly by gut feeling and shooting from the hip. I am trying to be more informed on when to get into and out of a position, possibly by looking at momentum indicators such as MACD. My question is this, when looking at the daily chart the momentum is down while the weekly chart says it is up, which one do i believe? (TSX:POT as an example). I am not a day trader, I like to buy and hold and possibly get into things with a reliable dividend. Any guidance on this much appreciated.
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