Bendigo And Adelaide Bank Limited (BENPE.AX) shares are being closely watched by investors as the Twiggs Money Flow indicator has jolted above the zero line. This typically indicates that further upside is ahead for the shares.
Twiggs Money Flow indicator was developed by Colin Twiggs to improve the Chaikin Money Flow (CMF) indicator. The main idea behind the TMF indicator is to evaluate volume (money flow) as bullish or as bearish based on a close price location. Chaikin Money Flow uses CLV (Close Location Value) to do it. Twiggs Money Flow, on the other hand, uses TR (True Range). Another main difference is that CMF uses cumulative volume (sum of volumes over specified period) and the TMF applies Moving average to the volume. When the TMF moves above the zero line, a bullish signal is present and prices can move higher. When the TMF moves below 0, a bullish signal is revealed and prices could be headed downward.
Tracking other technical indicators, the 14-day RSI is presently standing at 46.45, the 7-day sits at 39.14, and the 3-day is resting at 34.37. The Relative Strength Index (RSI) is an often employed momentum oscillator that is used to measure the speed and change of stock price movements. When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market. This measurement is based on closing prices over a specific period of time. As a momentum oscillator, the RSI operates in a set range. This range falls on a scale between 0 and 100. If the RSI is closer to 100, this may indicate a period of stronger momentum. On the flip side, an RSI near 0 may signal weaker momentum. The RSI was originally created by J. Welles Wilder which was introduced in his 1978 book “New Concepts in Technical Trading Systems”.
For further review, we can take a look at another popular technical indicator. In terms of moving averages, the 200-day is currently at 93.36, the 50-day is 101.36, and the 7-day is resting at 101.52. Moving averages are a popular trading tool among investors. Moving averages can be used to help filter out the day to day noise created by other factors. MA’s may be used to identify uptrends or downtrends, and they can be a prominent indicator for detecting a shift in momentum for a particular stock. Many traders will use moving averages for different periods of time in conjunction with other indicators to help gauge future stock price action.
When undertaking stock analysis, investors and traders may choose to view multiple technical levels. Bendigo And Adelaide Bank Limited (BENPE.AX) currently has a 14-day Commodity Channel Index (CCI) of -125.80. Investors and traders may use this indicator to help spot price reversals, price extremes, and the strength of a trend. Many investors will use the CCI in conjunction with other indicators when evaluating a trade. The CCI may be used to spot if a stock is entering overbought (+100) and oversold (-100) territory.
We can also do some further technical analysis on the stock. At the time of writing, the 14-day ADX for Bendigo And Adelaide Bank Limited (BENPE.AX) is 21.07. Many technical chart analysts believe that an ADX value over 25 would suggest a 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. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.
Interested investors may be watching the Williams Percent Range or Williams %R. Williams %R is a popular technical indicator created by Larry Williams to help identify overbought and oversold situations. Investors will commonly use Williams %R in conjunction with other trend indicators to help spot possible stock turning points. Bendigo And Adelaide Bank Limited (BENPE.AX)’s Williams Percent Range or 14 day Williams %R currently sits at -69.70. In general, if the indicator goes above -20, the stock may be considered overbought. Alternately, if the indicator goes below -80, this may point to the stock being oversold.