Reviewing the technicals on shares of Obsidian Energy Ltd (OBE.TO), we have recently spotted the Chaikin Oscillator below zero. Traders may be following the stock over the next few sessions to watch for any potential signs of bearish momentum.
Some investors may find the Williams Percent Range or Williams %R as a helpful technical indicator. Presently, Obsidian Energy Ltd (OBE.TO)’s Williams Percent Range or 14 day Williams %R is resting at -87.50. Values can range from 0 to -100. A reading between -80 to -100 may be typically viewed as strong oversold territory. A value between 0 to -20 would represent a strong overbought condition. As a momentum indicator, the Williams R% may be used with other technicals to help define a specific trend.
A commonly used tool 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 period of time. Moving averages can be very helpful for identifying peaks and troughs. They may also be used to assist the trader figure out proper support and resistance levels for the stock. Currently, the 200-day MA is sitting at 1.53.
We can also do some further technical analysis on the stock. At the time of writing, the 14-day ADX for Obsidian Energy Ltd (OBE.TO) is 34.69. 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.
Taking a glance at the relative strength indictor, we note that the 14-day RSI is currently at 17.87, the 7-day stands at 7.76, and the 3-day is sitting at 1.02. 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.
At the time of writing, Obsidian Energy Ltd (OBE.TO) has a 14-day Commodity Channel Index (CCI) of -132.37. Developed by Donald Lambert, the CCI is a versatile tool that may be used to help 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 period. CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average.