"For traders looking to capitalize on trends, the ADX may be an essential technical tool. The ADX is used to measure trend strength. ADX calculations are made based on the moving average price range expansion over a specified amount of time. ADX is charted as a line with values ranging from 0 to 100. The indicator is non-directional meaning that it gauges trend strength whether the stock price is trending higher or lower. The 14-day ADX for Buru Energy Limited (BRU.AX) presently sits at 61.21. In general, and ADX value from 0-25 would represent 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 signify an extremely strong trend.
Presently, the stock has a 14-day RSI of 58.47, the 7-day is sitting at 67.23. The Relative Strength Index (RSI) is one of multiple popular technical indicators. RSI measures the magnitude and velocity of directional price movements. The data is represented graphically by fluctuating between a value of 0 and 100. The indicator is computed by using the average losses and gains of a stock over a certain time period. RSI can be used to help spot overbought or oversold conditions. An RSI reading over 70 would be considered overbought, and a reading under 30 would indicate oversold conditions. A level of 50 would indicate neutral market momentum.
I am confident 2017 will be a good year for BURU Energy.
Our patience will soon start paying off, possibly as early as January 2017!
A very Happy New Year to all fellow travelers as we now head towards light !!
BRU Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
