Looking at the indicators on shares of Energy Bull 3X Direxion (ERX), we see that the PPO is above the signal line. Technical traders might be on the lookout for the stock to display signs of a bullish breakout.
Another technical indicator that may be a powerful resource for determining trend strength is the Average Directional Index or ADX. The ADX was introduced by J. Welles Wilder in the late 1970’s and it has stood the test of time. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. At the time of writing, the 14-day ADX for Energy Bull 3X Direxion (ERX) is noted at 18.28. Many technical 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.
At the time of writing, the 14-day Commodity Channel Index (CCI) is 22.47. 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.
For further review, we can take a look at another popular technical indicator. In terms of moving averages, the 200-day is currently at 27.97, the 50-day is 29.60, and the 7-day is resting at 30.28. 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.
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 is currently at 51.52, the 7-day stands at 50.07, and the 3-day is sitting at 39.95.
The Williams Percent Range or Williams %R is a technical indicator that was designed to measure overbought and oversold market conditions. The Williams %R indicator helps show the relative situation of the current price close to the period being observed. Energy Bull 3X Direxion (ERX)’s Williams Percent Range or 14 day Williams %R presently is at -58.26. In general, if the reading goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may show the stock as being oversold.