Eagle Bulk Shipping (NASDAQ:EGLE) Trending Upwards
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 10.71.
The projected lower bound is: 7.41.
The projected closing price is: 9.06.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 20 white candles and 30 black candles for a net of 10 black candles.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
Relative Strength Index
The current value for the 14 period RSI is 79.8840.
The RSI, written by J. Welles Wilder in 1978, can be used in several different ways to analyze a chart.
Tops and Bottoms
The RSI is above 70. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a Buy 9 period(s) Ago.
The RSI often forms chart patterns (such as head and shoulders or rising wedges) that may or may not be visible on the price chart. Since the analysis of chart patterns is subjective, the Expert Advisor cannot find them. You will have to visually inspect the RSI indicator to look for such patterns.
Failure Swings (also known as support or resistance penetrations or breakouts)
The RSI does not currently show any Failure Swings.
Support and Resistance
The RSI shows, sometimes more clearly than the price chart, levels of support and resistance. As with chart formations, this is subjective, so you must visually inspect the chart to determine this.
The RSI and price are not diverging.
Rex Takasugi – TD Profile
EAGLE BULK SHPPG closed down -0.130 at 9.020. Volume was 2,811% above average (trending) and Bollinger Bands were 65% wider than normal.
Open High Low Close Volume___
9.390 11.160 8.623 9.020 12,484,496
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 5.56 5.95 10.20
Volatility: 254 152 266
Volume: 2,421,796 583,930 222,998
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
EAGLE BULK SHPPG is currently 11.5% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect very strong flows of volume into EGLE.O (bullish). Our trend forecasting oscillators are currently bullish on EGLE.O and have had this outlook for the last 2 periods. Our momentum oscillator is currently indicating that EGLE.O is currently in an overbought condition.