The DAX managed a slight gain of 0.20%, while the FTSE 100 was underperforming after strong labor market data lifted yields. The index has lifted off lows, but remains down 0.42% on the day.
Stocks were struggling going into the Federal Reserve announcement, with markets still split on the risk of an accelerated rate path. US stock futures were moving sideways.
Asian markets initially moved higher, as energy related stocks got a boost from higher oil prices, but Hang Seng and CSI 300 lost earlier gains later in the session and closed with losses of 0.43% and 0.41%, respectively. Japan was closed for a holiday.
Tracking shares of Optimum Interactive (USA) Ltd (OPTL), we have seen that the Chaikin Oscillator reading is currently below zero. Traders following the stock may be on the lookout for possible bearish momentum.
Stock market reversals can occur at any time. When these corrections happen, the investing world may be quick to make over the top predictions. Looking at the current health of the overall stock market, it is important to remember that market corrections can be quite normal in bull market runs. Investors may use a down day to buy some names they may have had their eye on. As we near the next earnings season, everyone will be checking to see how companies have performed over the previous quarter. Investors and analysts will both be eagerly watching to see if the company can meet and beet projections.
Optimum Interactive (USA) Ltd (OPTL) currently has a 14-day Commodity Channel Index (CCI) of -64.69. Dedicated 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 Optimum Interactive (USA) Ltd (OPTL) is sitting at 12.39. 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.
Tracking other technical indicators, the 14-day RSI is presently standing at 46.85, the 7-day sits at 43.02, and the 3-day is resting at 36.72 for Optimum Interactive (USA) Ltd (OPTL). 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”.
Taking a peek at some Moving Averages, the 200-day is at 0.000228, the 50-day is 0.00038, and the 7-day is sitting at 0.000164. The moving average is a popular tool among technical stock analysts. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a specific period of time. Moving averages can be very useful for identifying peaks and troughs. They may also be used to help the trader figure out proper support and resistance levels for the stock.
Optimum Interactive (USA) Ltd (OPTL)’s Williams Percent Range or 14 day Williams %R presently is at -93.75. In general, if the reading goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may show the stock as being oversold. The Williams %R indicator helps show the relative situation of the current price close to the period being observed.
When certain portfolio stocks are performing poorly, investors may be prone to chase higher return stocks or move into safer stocks. As most investors know, short-term results have the ability to be somewhat misleading. Deviating from a well-crafted plan based on short-term market fluctuations can lead to portfolio trouble in the future. Having the proper mix of stocks in the portfolio may also be beneficial to longer-term performance. Pinpointing overall investment goals and regularly reviewing portfolio positions can help the investor stay on track.