After a recent market scan, we can see that Greenply Industries Limited (GREENPLY.NS) shares have moved 16.38% higher over the past month. Tracking performance over the last 5 sessions, shares have moved 1.80%. Over the last half-year, shares have changed -23.30%. Over the last full year, shares have moved -54.07%.
Investors may be drawing up a plan for the stretch run of the calendar year. With stocks riding high, the plan may involve looking at some different classes of shares. If the portfolio is full of large caps, investors may be looking for some small cap growth stocks to add to the mix. Investors may also be looking into purchasing some foreign stocks to get the portfolio as diversified as possible. Investors may also choose to select shares from various industries. Comparing stocks among peers can be a useful way to decide which ones might be ahead of the curve and poised for an upward move.
After conducting extensive research and thoroughly combing through fundamentals and technicals, it may be time for the investor to make some tough buy or sell decisions. Investors may be keen to the notion that the frequency of being right in making decisions may not be as important as the magnitude of the correctness.
Technical traders may be looking at recent indicator levels on shares of Greenply Industries Limited (GREENPLY.NS). After a recent check, the 50-day Moving Average is 136.86, the 200-day Moving Average is 171.32, and the 7-day is noted at 149.45. Moving averages have the ability to be used as a powerful indicator for technical stock analysis. Following multiple time frames using moving averages can help investors figure out where the stock has been and help determine where it may be possibly going. The simple moving average is a mathematical calculation that takes the average price (mean) for a given amount of time.
Greenply Industries Limited (GREENPLY.NS)’s Williams Percent Range or 14 day Williams %R is sitting at -17.30. Typically, if the value heads above -20, the stock may be considered to be overbought. On the flip side, if the indicator goes under -80, this may signal that the stock is oversold.
Traders may be leaning on technical stock analysis to help with investing decisions. Greenply Industries Limited (GREENPLY.NS) currently has a 14-day Commodity Channel Index (CCI) of 89.70. Despite the name, CCI can be used on other investment tools such as stocks. The CCI was designed to typically stay within the reading of -100 to +100. Traders may use the indicator to determine stock trends or to identify overbought/oversold conditions. A CCI reading above +100 would imply that the stock is overbought and possibly ready for a correction. On the other hand, a reading of -100 would imply that the stock is oversold and possibly set for a rally.
Technical traders often make a point of keeping an eye on the ATR or Average True Range of a particular equity. Currently, Greenply Industries Limited (GREENPLY.NS) has a 14-day ATR of 5.49. The Average True Range is an investor tool used to measure stock volatility. The ATR is not used to figure out price direction, just to measure volatility. The ATR is an indicator developed by J. Welles Wilder. Wilder has developed multiple indicators that are still quite popular in today’s investing landscape. The general interpretation of the ATR is the higher the ATR value, the higher the volatility.
Currently, the 14-day ADX for Greenply Industries Limited (GREENPLY.NS) is sitting at 43.42. 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.
Some traders may be employing technical analysis to try and conquer the market. There are plenty of various indicators that traders can use. Studying different technical indicators can provide some good insight, but the individual investor may want to start by focusing on a few different popular ones. Deciding which indicators to use may require a significant amount of homework. Trying to track too many signals at first might not be the best idea, and it may even create more confusion. Once the indicators have been chosen, traders may spend a good amount of time back testing strategies before making some trades.
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