Otto Energy Ltd (OEL.AX) Seeing Increased Action in Session

Needle moving action has been spotted in Otto Energy Ltd (OEL.AX) as shares are moving today on volatility 6.90% or 0.002 from the open. The ASX listed company saw a recent bid of 0.031 and 1270000 shares have traded hands in the session.

After a recent check, Otto Energy Ltd’s  14-day RSI is currently at 57.11, the 7-day stands at 67.14, and the 3-day is sitting at 77.69.

Taking a deeper look into the technical levels of Otto Energy Ltd (OEL.AX), we can see that the Williams Percent Range or 14 day Williams %R currently sits at 0.00. 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.

Otto Energy Ltd (OEL.AX) currently has a 14-day Commodity Channel Index (CCI) of 233.33. 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. 

Currently, the 14-day ADX for Otto Energy Ltd (OEL.AX) is sitting at 68.10. 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. 

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