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Shares ofProShares Ultra Nasdaq Biotechnology (BIB) have seen the needle move3.41% or 1.75 in the most recent session. TheNASDAQ listed companysaw a recent bid of $53.03 on83915 volume.

Strictly technical traders typically dont pay a whole lot of attention to fundamental factors such as value, competition, or company management. Technical analysts want to figure out trends based on indicators, charts, and prior price data. These types of traders are usually highly active and hold positions for short periods of time in order to capitalize on short-term price fluctuations. Active traders may be quick to unload a position if it does not pan out as expected. Technicians often pay a great deal of attention to support and resistance levels. These are levels where traders believe a specific stock will either see a bounce or a pullback.

Digging deeping into the ProShares Ultra Nasdaq Biotechnology (BIB) s technical indicators, we note that the Williams Percent Range or 14 day Williams %R currently sits at -54.70. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.

ProShares Ultra Nasdaq Biotechnology (BIB) currently has a 14-day Commodity Channel Index (CCI) of -31.41. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

Currently, the 14-day ADX for ProShares Ultra Nasdaq Biotechnology (BIB) is sitting at 20.96. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.

The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, the 14-day RSI for ProShares Ultra Nasdaq Biotechnologyis currently at 47.24, the 7-day stands at 50.69, and the 3-day is sitting at 71.69.

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Shares Seesawing on Volume: ProShares Ultra Nasdaq Biotechnology (BIB) - Morgan Research

This entry was posted on August 22, 2017 at 7:44 pm 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. |