Levels in View For Mayne Pharma Group Ltd

Xavier Trudeau
Juin 26, 2017

At the time of writing, the 14-day ADX for Mayne Pharma Group Ltd (MYX.AX) is noted at 33.81. Investors may be on the lookout for the major catalyst that either keeps the bulls charging into the second half the year, or wakes up the sleeping bears. The ATR is not used to figure out price direction, just to measure volatility. The RSI was developed by J. Welles Wilder, and it oscillates between 0 and 100. Although the CCI indicator was developed for commodities, it has become a popular tool for equity evaluation as well. The general interpretation of the ATR is the higher the ATR value, the higher the volatility. The Williams %R indicator helps show the relative situation of the current price close to the period being observed. Universal Coal PLC (UNV.AX) now has a 14 day Williams %R of -50.00. The RSI operates in a range-bound area with values between 0 and 100. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. A reading between 0 and -20 would indicate an overbought situation. The CCI technical indicator can be employed to help figure out if a stock is entering overbought or oversold territory. Using the ADX with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) may help determine the direction of the trend as well as the overall momentum.

The Average Directional Index or ADX is technical analysis indicator used to discern if a market is trending or not trending. The ADX is often used along with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of the trend.

Tracking other technical indicators, the 14-day RSI is presently standing at 50.14, the 7-day sits at 46.85, and the 3-day is resting at 53.50 for Dave & Buster's Entertainment Inc (PLAY). Currently, the 14-day ADX is 36.65. In general, an ADX value from 0-25 would signal an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would indicate a very strong trend, and a value of 75-100 would indicate an extremely strong trend. Filtering through the technicals may help locate some stocks that are poised to make a run even higher.

Mayne Pharma Group Ltd (MYX.AX) now has a 14-day Commodity Channel Index (CCI) of 199.73. Despite the name, CCI can be used on other investment tools such as stocks. Typically, the CCI oscillates above and below a zero line. On the other hand, a reading of -100 would imply that the stock is oversold and possibly set for a rally. The RSI, or Relative Strength Index is a popular oscillating indicator among traders and investors. The data is represented graphically by fluctuating between a value of 0 and 100. The RSI is computed base on the speed and direction of a stock's price movement. There are also moving averages (the Tenkan and Kijun lines) which act like the MACD crossover signals with the Tenkan crossing from underneath the Kijun as a bullish signal, while crossing overhead giving a bearish signal. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. The indicator is computed by using the average losses and gains of a stock over a certain time period. Generally, the RSI is considered to be oversold when it falls below 30 and overbought when it heads above 70. They may also be used to help spot support and resistance levels.

Under recent market conditions, it may be quite hard to be overly bearish. Investors commonly strive to locate the highest probability of success. Many investors will opt to follow strategies put in place by others.

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