Share Spotlight on Casey`s General Stor (CASY): Technicals in Focus

Investors are paying close attention to the charts of Casey`s General Stor (CASY), as the shares are holding above the MACD Histogram zero line.  The equity recently moved -0.57, touching 126.01 on a recent tick. 

MACD-Histogram bridges the time gap between the price movement and MACD. It offers a deeper insight into the balance of power between so called bulls and bears than the original MACD. It is one of the best tools available to a chartist because it shows not only who has control over the market but also their magnitude of strength.

The difference is represented by vertical lines in a series. The interesting fact is that like MACD, MACD-Histogram also fluctuates above and below the zero line. Hence, it is also known as an “oscillator”. In other words it is just the hide and seek between the fast and slow lines. If the fast line is above the slow line, MACD-Histogram is positive and plotted above the zero line. On the other hand if the fast line is below the slow line, MACD-Histogram is negative and plotted below the zero line. 

When it comes to securing profits in the stock market, investors may be trying to find a perfect system to help attain that goal. Dedicated investors may try strategies that have been passed on to them from other seasoned investors. Even after reading every piece of literature about investing, it might be hard to figure out which way is the best way to successfully conquer the market.  Studying up on company fundamentals and following technical stock levels can be a good place to start, but creating and implementing a plan can be difficult. As we all know, markets change over time. What drives a market during one point in time may not drive the market at a future date. Knowing what to look for when studying technical levels or fundamentals may help lead down the path to increased profits. Many investors will choose to study the indicators with the highest probability of forecasting future market action.

Additionally investors may want to examine some alternative technical indicators when studying a stock. Currently, the 14-day Commodity Channel Index (CCI) for Casey`s General Stor (CASY) is sitting at -122.30. CCI is an indicator used in technical analysis that was designed by Donald Lambert. Although it was originally intended for commodity traders to help identify the start and finish of market trends, it is frequently used to analyze stocks as well. A CCI reading closer to +100 may indicate more buying (possibly overbought) and a reading closer to -100 may indicate more selling (possibly oversold).

The 14-day ADX for Casey`s General Stor (CASY) is currently sitting at 11.60. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend. The ADX is a technical indicator developed by J. Welles Wilder used to determine the strength of a trend. The ADX is often used along with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of the trend.

Moving average indicators are used widely for stock analysis. Many traders will use a combination of moving averages with different time frames to help review stock trend direction. One of the more popular combinations is to use the 50-day and 200-day moving averages. Investors may use the 200-day MA to help smooth out the data a get a clearer long-term picture. They may look to the 50-day or 20-day to get a better grasp of what is going on with the stock in the near-term. Narrowing in on Moving Averages, the 200-day for Casey`s General Stor (CASY) is at 112.80, the 50-day is 126.97, and the 7-day is resting at 128.34. The RSI is computed based on the speed and direction of a stock’s price movement. The RSI is considered to be an internal strength indicator, not to be confused with relative strength which is compared to other stocks and indices. The RSI value will always move between 0 and 100. One of the most popular time frames using RSI is the 14-day. The 14-day RSI is presently standing at 45.84, the 7-day sits at 39.55, and the 3-day is resting at 25.08.

Investors may be watching other technical indicators such as the Williams Percent Range or Williams %R. The Williams %R is a momentum indicator that helps measure oversold and overbought levels. This indicator compares the closing price of a stock in relation to the highs and lows over a certain time period. A common look back period is 14 days. Casey`s General Stor (CASY)’s Williams %R presently stands at -70.24. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would indicate an overbought situation. A reading from -80 to -100 would indicate an oversold situation.

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