When we take a look at other technical indicators, the ( ) is at 26.6610. tends to determine overbought and oversold levels. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is approaching oversold, but still has room to drop.
The true strength index (TSI) is currently -8.4195. 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 is trending downward.
The negative indicator (VI) is currently 1.3790. The VI determines current trend and direction. 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. The current reading declares the stock is trending downward. Even though it is at a high level, it can continue to go higher in a negative manner for the stock.
Considering the moving average crossover, , TSI, and VI levels, the overall near-term stock direction appears to be trending downward. Based on historical movement compared to current levels and current downtrend, the stock could drop at least another 4.70% over the next four weeks.
-Elliott Wave Ideas (elliottwaveideas.com)