When we take a look at other technical indicators, the ( ) is at 47.3256. tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. Currently the is neutral and it could go any direction.
The true strength index (TSI) is currently -23.1234. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock has been moving down for most of 2017.
The positive indicator (VI) is at 0.8414 and the negative is at 1.0547. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. Currently the negative and positive indicators are moving closer together, but near-term movement still favors more action.
The oscillator K value is 60.6330 and D value is 36.1408. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The is currently moving up The next few days will be key in determining if the stock will continue its downward movement. The K is currently higher and moving up, meaning the stock could move up.
Considering the , TSI, VI and levels, the overall direction favors a move to the downside, although definitive downward movement may take a few more days to develop. Based on historical movement compared to current levels and the current position, the stock could drop at least 2% over the next 26 trading days if not sooner.
-Elliott Wave Ideas (elliottwaveideas.com)