I don't usually pay much attention to these index and chart readings but this one caught my eye:
"Traders may be relying in part on technical stock analysis. Syntonic Ltd (SYT.AX) currently has a 14-day Commodity Channel Index (CCI) of -85.56. Despite the name, CCI can be used on other investment tools such as stocks. The CCI was designed to typically stay within the reading of -100 to +100. Traders may use the indicator to determine stock trends or to identify overbought/oversold conditions. A CCI reading above +100 would imply that the stock is overbought and possibly ready for a correction. On the other hand, a reading of -100 would imply that the stock is oversold and possibly set for a rally. At the time of writing, the 14-day ADX for Syntonic Ltd (SYT.AX) is 37.6. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available."
Rally time is not far off.
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