Watching the technicals on shares of Russell 1000 Momentum Focus ETF SPDR (ONEO), we have recently noted that the Chaikin Oscillator is above zero. Traders may be following the stock over the next few trading periods to spot any potential signs of bullish momentum.
We can also do some further technical analysis on the stock. At the time of writing, the 14-day ADX for Russell 1000 Momentum Focus ETF SPDR (ONEO) is 22.19. 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.
Taking a glance at the relative strength indictor, we note that the 14-day RSI is currently at 61.29, the 7-day stands at 75.54, and the 3-day is sitting at 87.63. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of stock price movements. The RSI was developed by J. Welles Wilder, and it 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. RSI can be used to detect general trends as well as finding divergences and failure swings.
At the time of writing, Russell 1000 Momentum Focus ETF SPDR (ONEO) has a 14-day Commodity Channel Index (CCI) of 138.84. Developed by Donald Lambert, the CCI is a versatile tool that may be used to help spot an emerging trend or provide warning of extreme conditions. CCI generally measures the current price relative to the average price level over a specific time period. CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average.
Investors may be watching other technical indicators such as the Williams Percent Range or Williams %R. 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. Russell 1000 Momentum Focus ETF SPDR (ONEO)’s Williams %R presently stands at -7.43. 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.
For further review, we can take a look at another popular technical indicator. In terms of moving averages, the 200-day is currently at 71.09, the 50-day is 74.52, and the 7-day is resting at 74.41. Moving averages are a popular trading tool among investors. Moving averages can be used to help filter out the day to day noise created by other factors. MA’s may be used to identify uptrends or downtrends, and they can be a prominent indicator for detecting a shift in momentum for a particular stock. Many traders will use moving averages for different periods of time in conjunction with other indicators to help gauge future stock price action.