Technical Watch: Focusing on Shares of S&P Biotech SPDR (XBI)

S&P Midcap Growth ETF SPDR (MDYG) shares are on close watch heading into the week as the price has moved above the Balance Step indicator, revealing a potential near-term bullish uptrend. The ADX was introduced by J. Welles Wilder in the late 1970's and it has stood the test of time.

Investors may be wondering how to tackle the markets at current levels.

When it comes to equity investing, being too confident may be just as detrimental as not being confident enough. Investors may become very familiar and comfortable with a certain sector, and they may be completely missing out on opportunities from other fast growing sectors.

A commonly used tool among technical stock analysts is the moving average. The ADX was created by J. Welles Wilder to help determine how strong a trend is. The general interpretation of the ATR is the higher the ATR value, the higher the volatility. The Williams Percent Range or Williams %R is another technical indicator that may be useful for traders and investors. Finally, Sei Investments Co. lifted its stake in SPDR S&P MidCap 400 ETF by 14.3% in the 2nd quarter. The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. The Williams %R is a momentum indicator that helps measure oversold and overbought levels. A value between 0 to -20 would represent a strong overbought condition. The Williams Percent Range or Williams %R is a technical indicator that was created to measure overbought and oversold market conditions. The indicator is non-directional meaning that it gauges trend strength whether the stock price is trending higher or lower. The ADX is often used along with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of the trend. The RSI may be used to help spot points of reversals more accurately. Presently, the 14-day ADX for S&P Capital Markets ETF SPDR (KCE) is 40.88. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

Traders may be leaning on technical stock analysis to help with investing decisions.

The fund, which crossed the $200bn threshold as recently as August 2016 and is by far the largest ETF globally, tracks the bellwether S&P 500 Index, one of the most widely followed benchmarks for the performance of the U.S. equity market. Despite the name, CCI can be used on other investment tools such as stocks. A reading between -80 to -100 may be typically viewed as strong oversold territory. Traders may also use the reading to identify overbought/oversold conditions. On the other hand, a reading of -100 would imply that the stock is oversold and possibly set for a rally.

"Takes Position in SPDR S&P Biotech (XBI)" was published by Week Herald and is the property of of Week Herald. The 14-day RSI is presently standing at 52.66, the 7-day sits at 45.79, and the 3-day is resting at 23.68. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of stock price movements. The Williams %R oscillates in a range from 0 to -100. When the RSI line moves up, the stock may be experiencing strength. The opposite would be the case for a falling ADX line. This measurement is based on closing prices over a specific period of time. Many traders keep an eye on the 30 and 70 marks on the RSI scale. They may also be used to help the trader figure out proper support and resistance levels for the stock.

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