The current level of the shares now stands at 53.21 at the time of writing.
SAR stands for stop and reverse and it is a trend following indicator, created to identify the turning point in price action.
The parabolic SAR is shown on the charts as a series of small "dots" that are placed either above or below the price. When the price is trending to the upside, the dots are below the price action and when the price is trending to the downside, the dots are above the price action. Traders may be checking this reading to see if a bearish move is in store. Sometimes, investors will have a few missteps that generally include buying when the market is too high, selling when the market is low, or being on the sidelines during a major charge higher. One of the more popular combinations is to use the 50-day and 200-day moving averages. Currently, the 14-day ATR for Cabot Corp (CBT) is spotted at 0.86. Investors and traders may use this indicator to help spot price reversals, price extremes, and the strength of a trend. ADX calculations are made based on the moving average price range expansion over a specified amount of time.
Checking in on some other technical levels, the 14-day RSI is now at 37.56, the 7-day stands at 28.51, and the 3-day is sitting at 20.93. 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. Wilder laid out the foundation for future technical analysts to further investigate the RSI and its relationship to underlying price movements. The RSI oscillates on a scale from 0 to 100. In general, if the reading goes above -20, the stock may be considered to be overbought. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. A reading under 30 would indicate oversold conditions.
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Another technical indicator that may be a powerful resource for determining trend strength is the Average Directional Index or ADX. The average true range indicator was created by J. Welles Wilder in order to measure volatility. The 14-day ADX for Direxion Daily S&P 500 Bull 3X Shares (SPXL) is now at 11.54. Many technical analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would suggest no trend, and a reading from 20-25 would suggest that there is no clear trend signal.
Rivernorth/Doubleline Strategic Opportunity Fund Inc's Williams Percent Range or 14 day Williams %R now sits at -27.08. Currently, the 200-day MA is sitting at 17.18, and the 50-day is 12.13. Normal oscillations tend to stay in the range of -100 to +100. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. Many investors may have missed the charge, and they keep hoping for stocks to retreat to go on a buying spree. The indicator is computed by using the average losses and gains of a stock over a certain time period. Direxion Daily MSCI India Bull 3X Shares (INDL)'s Williams %R presently stands at -24.15. Many investors will use the CCI in conjunction with other indicators when evaluating a trade. On the flip side, an RSI near 0 may signal weaker momentum. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory. They may also be used to help find support or resistance levels.
Direxion Daily European Financials Bear 1X Shares (EUFS) shares have been sparking interest of late as the volume moving average (VMA) has climbed steadily over the past seven bars.