Monday 26 December 2016

RSI Review on Shares of Horizons Bp Comex Silver Bull Plus ETF (HZU.TO)

The Relative Strength Index (RSI) is a highly popular momentum indicator used for technical analysis. The RSI can help display whether the bulls or the bears are currently strongest in the market. The RSI may be used to help spot points of reversals more accurately. The RSI was developed by J. Welles Wilder. As a general rule, an RSI reading over 70 would signal overbought conditions. A reading under 30 would indicate oversold conditions. As always, the values may need to be adjusted based on the specific stock and market. RSI can also be a valuable tool for trying to spot larger market turns. Horizons Bp Comex Silver Bull Plus ETF (HZU.TO) has a 14-day RSI of 29.41, the 7-day is at 22.66, and the 3-day is resting at 11.74.

After a recent check, shares of Horizons Bp Comex Silver Bull Plus ETF (HZU.TO) have a 200-day moving average of 20.25. The 50-day is 17.86, and the 7-day is sitting at 15.13. Using a bigger time frame to assess the moving average such as the 200-day, may help block out the noise and chaos that is often caused by daily price fluctuations. In some cases, MA’s may be used as strong reference points for spotting support and resistance levels. Employing the use of the moving average for technical equity analysis is still highly popular among traders and investors. The moving average can be used as a reference point to assist with the discovery of buying and selling opportunities.

The Williams Percent Range or Williams %R is another technical indicator that may be useful for traders and investors. The Williams %R is designed to provide a general sense of when the equity might have reached an extreme and be primed for a reversal. As a general observance, the more overbought or oversold the reading displays, the more likely a reversal may take place. The 14 day Williams %R for Horizons Bp Comex Silver Bull Plus ETF (HZU.TO) is noted at -96.69. Many consider the equity oversold if the reading is below -80 and overbought if the indicator is between 0 and -20.

The Average Directional Index or ADX is technical analysis indicator used to describe if a market is trending or not trending. The ADX alone measures trend strength but not direction. 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. Many traders will use the ADX alongside other indicators in order to help spot proper trading entry/exit points. Currently, the 14-day ADX for Horizons Bp Comex Silver Bull Plus ETF (HZU.TO) is 32.14. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend.

Horizons Bp Comex Silver Bull Plus ETF (HZU.TO) currently has a 14-day Commodity Channel Index (CCI) of -91.61. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.
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