The twenty one day Wilder Moving Average has been seen above the fifty day Simple Moving Average on shares of Triton Gold Limited (TON.AX). Traders following these lines may be tracking the stock and checking for a strong near-term trend.
Investors may be trying to figure out what stocks will give a boost to portfolio performance over the next few months. Value investors may be looking for current value in the market. They are generally looking for bargains and interested in uncovering those stocks that may be primed for a run but have fallen out of favor with Wall Street. Growth investors may be looking to target companies that are able to advance earnings faster than average. This may include searching for those industries that have strong growth trends and a proven track record of strong sales and earnings growth.
Let’s view some technical levels on shares of Triton Gold Limited (TON.AX). Presently, the 14 day Williams %R is -80.00. Readings may range from 0 to -100. A Williams %R that lands between -80 to -100 is typically seen as being in strong oversold territory. A reading between 0 to -20 would represent a strong overbought condition. As a momentum indicator, the Williams R% has the ability to be used with other technicals to help define a specific trend.
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. 49.47, the 7-day stands at 47.35, and the 3-day is sitting at 41.02. 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.
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. A certain stock may be considered to be on an uptrend if trading above a moving average and the average is sloping upward. On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward. Shares of Triton Gold Limited (TON.AX) have a 7-day moving average of 0.04.
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The Average Directional Index or ADX is a popular technical indicator designed to help measure trend strength. Many traders will use the ADX in combination with other indicators in order to help formulate trading strategies. Presently, the 14-day ADX for Triton Gold Limited (TON.AX) is 17.68. In general, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend. The ADX alone was designed to measure trend strength. When combined with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI), it can help decipher the trend direction as well.
Triton Gold Limited (TON.AX) presently has a 14-day Commodity Channel Index (CCI) of -25.93. Typically, the CCI oscillates above and below a zero line. Normal oscillations tend to stay in the range of -100 to +100. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory. Although the CCI indicator was developed for commodities, it has become a popular tool for equity evaluation as well.
Some investors may be looking to trade the trend and capitalize on strong current performers. Other investors may look to take a contrarian approach. This can involve looking for names that have been overlooked by the crowd. There are many different contrarian approaches that investors may choose to use. Going against the crowd may require a lot more homework and confidence. There may be hidden gems out there, but is may be wise to investigate why nobody else seems to want to get into the name. Finding that perfect strategy may take a lot of study and dedication. Taking shortcuts in the market can have severe negative effects on the long-term health of the portfolio.
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