Shares of Natural Gas 3X Long ETN Velocityshares (UGAZ) have seen the needle move 0.82% or 0.62 in the most recent session. The NYSE listed company saw a recent bid of $76.482 on 2498211 volume.
Investors may be wondering what’s in store for the next couple of months in terms of the stock market. Bull markets are times when investors may be willing to take some liberties with stock picks. Risk management is typically on the minds of many investors. Investors trying to gain an advantage may be searching for the perfect balance and diversification to help ease the risk and give the portfolio a needed boost. With so many different stocks to study, it may take a while to hone in on the proper ones. Investors will also be closely following the next round of economic data. Investors may be on the lookout for the next major data announcement that either keeps the bulls in charge or ushers in the bears.
Taking a deeper look into the technical levels of Natural Gas 3X Long ETN Velocityshares (UGAZ), we can see that the Williams Percent Range or 14 day Williams %R currently sits at -15.56. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.
Natural Gas 3X Long ETN Velocityshares (UGAZ) currently has a 14-day Commodity Channel Index (CCI) of 107.85. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.
The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, Natural Gas 3X Long ETN Velocityshares’s 14-day RSI is currently at 54.59, the 7-day stands at 67.13, and the 3-day is sitting at 73.42.
Currently, the 14-day ADX for Natural Gas 3X Long ETN Velocityshares (UGAZ) is sitting at 25.44. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong 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. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.
For further review, we can take a look at another popular technical indicator. In terms of moving averages, the 200-day is currently at 131.63, the 50-day is 82.63, and the 7-day is resting at 69.59. 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.