Loopup Group Plc (LOOP.L)’s RCI Moving Towards Key Level

Firm shares of Loopup Group Plc (LOOP.L) have seen the Rank Correlation Indicator climb higher over the past 3 trading days, suggesting that it could be nearing a turning point if the reading crosses the 80 mark.  

The Rank Correlation Indicator, or RCI will find the highest high and the lowest low with a given range and will find out if the security is over or undervalued. It is very much like Stoachastic but with different time periods.  Created by Charles Spearman, the indicator oscillates between +100 and -100. At +100 there is a maximum positive correlation between rising price and date. However, if the indicator shows -100, the price falls continuously while the date continues to rise. There is hence a maximum negative correlation. The interpretation is analogous to that for other oscillators. If RCI is higher than 80 (overbought), then a sell signal is triggered, and if RCI is lower than -80 (oversold), a buy signal is given.

A highly common way to study stocks is through fundamental analysis. Investors examining the fundamentals may be analyzing the underlying factors that can affect the performance of a particular enterprise. When focusing in on a specific enterprise, investors will look at enterprise management, financial information, business prospects, and industry competition. The goal of digging into the numbers is often times a way to calculate the current value of a enterprise and try to gauge the value into the future. Zooming in on the vital statistics of a enterprise can aid provide a glimpse of the enterprise’s overall health. 

In order to get a full picture of the charts, we can take a look at some additional key indicators.  Loopup Group Plc (LOOP.L) currently has a 14 day Williams %R of 0.00. In general, if the level goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may signal that the stock is oversold. The Williams Percent Range or Williams %R is a technical indicator that was developed to add up overbought and oversold market conditions. The Williams %R indicator helps show the relative situation of the current price close to the season being observed.

We can also take a look at the Average Directional Index or ADX of Loopup Group Plc (LOOP.L). The ADX is used to add up trend strength. ADX calculations are made based on the moving average price range expansion over a specified amount of time. ADX is charted as a line with values ranging from 0 to 100. The indicator is non-directional meaning that it gauges trend strength whether the stock price is trending higher or lower. The 14-day ADX at present sits at 24.53. In general, and ADX value from 0-25 would represent an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would indicate a very strong trend, and a value of 75-100 would signify an extremely strong trend. At the time of writing, Loopup Group Plc (LOOP.L) has a 14-day Commodity Channel Index (CCI) of 194.08. Developed by Donald Lambert, the CCI is a versatile gizmo that may be used to aid 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 season. CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average.

A commonly used gizmo among technical stock analysts is the moving average. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain season of time. Moving averages can be very useful for identifying peaks and troughs. They may also be used to assist the trader think through proper support and resistance levels for the stock. Currently, the 200-day MA for Loopup Group Plc (LOOP.L) is sitting at 399.57. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of stock price movements. The RSI was developed by J. Welles Wilder, and it oscillates between 0 and 100. Generally, the RSI is considered to be oversold when it falls below 30 and overbought when it heads above 70. RSI can be used to detect general trends as well as finding divergences and failure swings. The 14-day RSI is at present standing at 68.28, the 7-day is 77.38, and the 3-day is resting at 88.76.

Investors may be combing through all the latest earnings reports and trying to make sense of all the numbers. With lots of information readily available, investors may be searching for that next batch of stocks to add to the portfolio. Finding high quality stocks may be at the top of the investor’s checklist. Once high quality stocks are spotted, the investor may be then gazing for bargains among those stocks. Many investors will look for stocks that have displayed consistent earnings growth over an extended season of time. When a enterprise drastically over performs for a quarter, investors may be quick to investigate. The same things may be done if a enterprise severely underperforms compared to projections. 

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