Encana Corp (USA) (NYSE:ECA) Heffx Trading Outlook
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
The projected upper bound is: 10.02.
The projected lower bound is: 8.25.
The projected closing price is: 9.14.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 25 white candles and 23 black candles for a net of 2 white candles.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 31.0225. This is not an overbought or oversold reading. The last signal was a buy 2 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 42.81. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 7 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -145.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 3 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 5 period(s) ago.
Rex Takasugi – TD Profile
ENCANA CORP closed down -0.750 at 9.110. Volume was 578% above average (trending) and Bollinger Bands were 23% narrower than normal.
Open High Low Close Volume___
9.220 9.350 9.105 9.110 17,932,100
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 9.88 9.04 6.77
Volatility: 74 63 99
Volume: 4,594,097 2,581,367 2,867,018
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.
ENCANA CORP gapped down today (bearish) on heavy volume. Possibility of a Breakaway Gap which usually signifies the beginning of a major market move. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
ENCANA CORP is currently 34.6% above its 200-period moving average and is in an downward 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 moderate flows of volume out of ECA.N (mildly bearish). Our trend forecasting oscillators are currently bearish on ECA.N and have had this outlook for the last 0 periods.
Latest posts by HEFFX Australia (see all)
- American Express Company (NYSE:AXP) Long Term Trend Upwards - January 20, 2017
- Procter & Gamble Co (NYSE:PG) Heffx Technical Analysis with Candlesticks - January 20, 2017
- International Business Machines Corp (NYSE:IBM) Buy on Dips - January 20, 2017