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ProShares UltraShort Nasdaq Biotechnology (BIS) currently has a 14-day Commodity Channel Index (CCI) of -291.59. 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 a reading of -100 would imply that the stock is oversold.

A populartool 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. They may also be used to assist the trader figure out proper support and resistance levels for the stock. Currently, ProShares UltraShort Nasdaq Biotechnology (BIS) has a 200-day MA of 31.84, and a 50-day of 27.97. Presently, the stock has a 14-day RSI of 40.66, the 7-day is sitting at 31.69, and the 3-day is resting at 18.34. The Relative Strength Index (RSI) is one of multiple popular technical indicators created by J. Welles Wilder. Wilder introduced RSI in his book New Concepts in Technical Trading Systems which was published in 1978. 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.

ProShares UltraShort Nasdaq Biotechnology (BIS)s Williams Percent Range or 14 day Williams %R presently is at -94.66. In general, if the reading goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may show the stock as being oversold. We can also take a look at the Average Directional Index or ADX of the stock. 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 ProShares UltraShort Nasdaq Biotechnology (BIS) presently sits at 12.12. 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.

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Chart Level Analysis on Shares of ProShares UltraShort Nasdaq Biotechnology (BIS) - Baxter Review

This entry was posted on April 26, 2017 at 10:42 am and is filed under Biotechnology. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed. |