Watching the Tape Move for SunEdison Inc (SUNEQ)
May 22, 2017 Kenneth Searles
Needle moving action has been spotted in SunEdison Inc (SUNEQ) as shares are moving today on volatility 3.44% or 0.0015 from the open. The OTC listed company saw a recent bid of 0.0451 and 468667 shares have traded hands in the session.
Deep diving into the technical levels for SunEdison Inc (SUNEQ), we note that the equity currently has a 14-day Commodity Channel Index (CCI) of -42.40. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.
SunEdison Inc’s Williams Percent Range or 14 day Williams %R currently sits at -49.00. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.
Currently, the 14-day ADX for SunEdison Inc (SUNEQ) is sitting at 54.53. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.
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 RSIfor SunEdison Inc (SUNEQ) is currently at 39.33, the 7-day stands at 45.10, and the 3-day is sitting at 62.67.
