Following a recent market check, we have noticed that the -Directional Indicator is above the +Directional Indicator on shares of S&P 500 Ex-Energy Proshares (SPXE). Technical traders may be watching this reading to identify bearish momentum on the stock.
Taking a closer look from a technical standpoint, S&P 500 Ex-Energy Proshares (SPXE) presently has a 14-day Commodity Channel Index (CCI) of 69.97. Typically, the CCI oscillates above and below a zero line. Normal oscillations tend to stay in the range of -100 to +100. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory. Although the CCI indicator was developed for commodities, it has become a popular tool for equity evaluation as well.
Checking in on some other technical levels, the 14-day RSI is currently at 77.48, the 7-day stands at 78.09, and the 3-day is sitting at 70.55. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of stock price movements. The RSI was developed by J. Welles Wilder, and it oscillates between 0 and 100. Generally, the RSI is considered to be oversold when it falls below 30 and overbought when it heads above 70. RSI can be used to detect general trends as well as finding divergences and failure swings.
Some investors may find the Williams Percent Range or Williams %R as a helpful technical indicator. Presently, S&P 500 Ex-Energy Proshares (SPXE)’s Williams Percent Range or 14 day Williams %R is resting at -0.50. Values can range from 0 to -100. A reading between -80 to -100 may be typically viewed as strong oversold territory. A value between 0 to -20 would represent a strong overbought condition. As a momentum indicator, the Williams R% may be used with other technicals to help define a specific trend.
A widely used tool among technical stock analysts is the moving average. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. Moving averages can be very helpful for spotting peaks and troughs. They may also be used to help the trader figure out reliable support and resistance levels for the stock. Currently, the 200-day MA is sitting at 51.35.
The 14-day ADX for S&P 500 Ex-Energy Proshares (SPXE) is currently at 48.04. In general, and ADX value from 0-25 would represent an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would signify a very strong trend, and a value of 75-100 would point to an extremely strong trend.