Zenyatta Ventures Ltd (ZEN.V) shares are moving today on volatility 2.91% or $0.03 from the open. The TSXV listed company saw a recent bid of $1.06 and 50230 shares have traded hands in the session.
Investors might have been ready to throw in the towel as the rally stalled recently. However, the panic subsided and growth-hungry investors came searching for their favorite stocks in the wreckage. Keeping things in perspective, the economy seems good, and so does earnings growth. Investors may be wondering where the money will be flowing in the second half of the year. Many people may assume healthcare and tech would be the easy targets, primarily because that’s where the earnings growth is. Industrials and staples are no slouches for growth either, but they may be well fully-valued for their growth. Traders will most likely be honing their strategies that they created, trying to beat the market over the next couple of months.
Digging deeping into the Zenyatta Ventures Ltd (ZEN.V) ‘s technical indicators, we note that the Williams Percent Range or 14 day Williams %R currently sits at -9.52. 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.
Zenyatta Ventures Ltd (ZEN.V) currently has a 14-day Commodity Channel Index (CCI) of 104.84. 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.
Currently, the 14-day ADX for Zenyatta Ventures Ltd (ZEN.V) is sitting at 33.29. 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.
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, the 14-day RSI for Zenyatta Ventures Ltd is currently at 64.00, the 7-day stands at 72.21, and the 3-day is sitting at 82.06.