Economy

Are The Charts Bullish Or Bearish on WPP PLC (WPPGY) Shares?

Liberum Capital dropped their price objective on Wpp Plc from GBX 2,000 ($26.97) to GBX 1,865 ($25.14) and set a "buy" rating on the stock in a research note on Friday, September 8th.

The company is so far trading up by 1.67% percent from yesterday's close. Dedicated investors may be looking to employ another tool for doing technical stock analysis. When the trend is determined, the thought is that price movements in the future are more likely to go in the same direction as the trend, and not against it. Wall Street analysts have a consensus 1.70 recommendation on the stock. Normal oscillations tend to stay in the range of -100 to +100. A reading between 0 and -20 would point to an overbought situation. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. The 14-day RSI is now at 35.82, the 7-day stands at 40.33, and the 3-day is sitting at 45.26. Although the CCI indicator was developed for commodities, it has become a popular tool for equity evaluation as well. CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory.

The Average Directional Index or ADX is a popular technical indicator created to help measure trend strength. The RSI was developed by J. Welles Wilder, and it oscillates between 0 and 100. Chart analysts may also use the indicator to project possible price reversals and to define trends. The RSI oscillates on a scale from 0 to 100. Finally, Beaufort Securities dropped their price objective on Wpp Plc from GBX 2,075 ($27.98) to GBX 1,600 ($21.57) and set a "buy" rating on the stock in a research note on Thursday, August 24th. Alternately, if the indicator goes under -80, this may show the stock as being oversold.

WPP plc's RSI is 34.93.

Currently, the 14-day ADX for WPP PLC (WPPGY) is sitting at 31.68. In general, an ADX value from 0-25 would indicate an absent or weak 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. Using the ADX with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) may help determine the direction of the trend as well as the overall momentum. The firm has a 50-day moving average of GBX 1,707.14 and a 200-day moving average of GBX 1,768.10. The 50 day moving average moved down $-3.10 and the 200 day average was down $-10.62.



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