Stock market players may have differing opinions on which type of research approach is best. Individual investors who prefer buy and hold strategies may be more likely to be studying the fundamentals. Traders that are constantly buying and selling shares may be more concerned with technical analysis. High frequency traders may be willing to take on more risk entering the market. For these types of traders, entry and exit points become far more important. Traders may be relying solely on charts in order to capture profits based on day to day, hour to hour, or minute by minute price fluctuations. Long term investors may not be as concerned with the daily ups and downs of the market.
Many traders will look to optimize stock trades by using various technical indicators. The Ichimoku Cloud indicator is highly flexible and is commonly used in conjunction with the RSI to help confirm momentum and overall trends. Let’s focus on a few different Ichimoku readings on shares of Odonate Therapeutics, Inc. (:ODT):
Ichimoku Cloud Base Line: 16.47
Ichimoku Cloud Conversion Line: 16.675
Ichimoku Lead 1: 16.9375
Ichimoku Lead 2: 14.76
Traders following shares of Odonate Therapeutics, Inc. (:ODT) may have noted that the stock most recently closed at 17.57. Going back a full-year, the stock has seen a change of -43.0633 over that stretch. Taking the focus in to more recent action, shares have seen a move of 5.3398056 over the last week. Over the prior month, the stock has moved 0.87158626. Over the past three months, the stock has moved 9.943002.
There are multiple moving average indicators that traders may rely on when conducting stock research. One of the most popular is the Simple Moving Average. The SMA is unweighted, meaning that each period in the set of data is weighted equally. Looking at some SMA levels, we can see that the 10 day is 16.733, the 20 day is 16.5165, and the 30 day is 16.577833. Tracking some other time periods, we note that the 50 day SMA is 16.6948 , the 100 day is 15.53935 , and the 200 day SMA is currently 16.1576.
Tracking some one month stock pivot points, we note that the Classic Pivot is 16.303333, the Classic resistance 1 is 17.236666, and the Classic support 1 is presently 15.566667. The Fibonacci one month pivot is 16.303333 while the Fibonacci support 1 pivot is 15.665393, and the Fibonacci support 2 is 15.271274. Looking at one month Woodie pivot, we note the level at 16.6625. The Woodie support 1 pivot is 16.285, and the Woodie resistance 1 pivot is 17.955.
Traders focusing on technical analysis may be interested in following the Awesome Oscillator level. Currently, the reading is 0.02232353. Typically, when the Awesome Oscillator moves above the zero line, this would indicate that the short term momentum is rising quicker than the long term momentum. A cross below the zero line would indicate that short term momentum is dropping faster than the long term momentum.
Tracking the Hull Moving Average, we note that the current level is 16.525814. The Hull Moving Average was introduced by Alan Hull. Swing traders often use this indicator in combination with other signals in order to help identify possible entry and exit spots.
Investors may be wondering what’s in store for the next few months in terms of the equity market. Many investors may be hesitant to get into the mix with markets still trading at such high levels. Sometimes, the fear of missing out on the next big run will cause investors to make hasty decisions. Taking the time to do the full research can help offset the jitters associated with picking stocks. Finding stocks that still have room to head higher can be tricky, but there are still plenty of them out there. Although nobody can say for certain which way the market will trend into the New Year, investors should be on the lookout for opportunities that may present themselves over the next quarter. All eyes will be focused on company earnings when the next round of earnings reports begins.
Expanding the technical focus for Odonate Therapeutics, Inc. (:ODT), we see that the Keltner Channels 20 day upper band is 17.123768, and the 20 day lower band is16.113192. The Keltner Channels indicator is similar to Bollinger Bands and Moving Average Envelopes.
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