Shares of Resapp Health Limited (RAP.AX) have been tilting lower over the past 13 weeks, revealing bearish momentum for the shares, as they have dipped -4.55% over the past quarter. Looking further out we note that the shares have moved 16.67% over the past 4-weeks, -52.27% over the past half year and -30.00% over the past full year. Resapp Health Limited shares have moved 22.09 over the past week.
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When looking at technical levels, traders should not overlook the RSI reading as it often can dictate if momentum has pushed past a key metric. The current 7-day RSI stands at 80.81, and the 3-day is sitting at 92.88.
The Relative Strength Index (RSI) 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.
Looking further at additional technical indicators we take note that 14-day Commodity Channel Index (CCI) for Resapp Health Limited (RAP.AX) is sitting at 154.14.
CCI Quick Facts
Used to Identify start of a trend
Used to Identify end of a trend
Alternative metric for spotting oversold/overbought territory
Designed by Donald Lambert
Reading levels close to +100 point to potential overbought range while a reading close to -100 would indicate possible oversold territory.
Near Term M/A Update
Designed by Donald Lambert
Reading levels close to +100 point to potential overbought range while a reading close to -100 would indicate possible oversold territory.
Shares of Resapp Health Limited (RAP.AX) have a 7-day moving average of 0.09. Moving averages can help spot trends and price reversals. They may also be used to help find support or resistance levels. Moving averages are considered to be lagging indicators meaning that they confirm trends.
Investors may be watching technical indicators such as the Williams Percent Range or Williams %R. Resapp Health Limited (RAP.AX)’s Williams %R presently stands at 0.00. The Williams %R is a momentum indicator that helps measure oversold and overbought levels. This indicator compares the closing price of a stock in relation to the highs and lows over a certain time period. A common look back period is 14 days. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would indicate an overbought situation. A reading from -80 to -100 would indicate an oversold situation.
Another technical indicator that might serve as a powerful resource for measuring trend strength is the Average Directional Index or ADX. The ADX was introduced by J. Welles Wilder in the late 1970’s and it has stood the test of time. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. At the time of writing, the 14-day ADX for Resapp Health Limited (RAP.AX) is noted at 23.34. Many technical 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 Williams Percent Range or Williams %R is a technical indicator worth taking a look at. Resapp Health Limited (RAP.AX) currently has a 14 day Williams %R of 0.00. The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. Levels above -20 may indicate the stock may be considered is overbought. If the indicator travels under -80, this may signal that the stock is oversold. Chart analysts may also use the indicator to project possible price reversals and to define trends.
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