Tale of the Ticker: Dark Horse Resources Ltd (DHR.AX) Moves on Volume

Shares of Dark Horse Resources Ltd (DHR.AX) is moving on volatility today -12.50% or -0.001 from the open. The ASX listed company saw a recent bid of 0.007 on 11357575 volume.

Investors may be searching for high quality stocks to add to the portfolio. There may be various company characteristics that attract added attention. Many investors will be looking for a company that is a leader in their respective field with strong sales growth. Many investors will also look for companies with a solid management team that have proven track records. Investors that invest in individual stocks are most likely expecting the company to prosper and grow in the future. Expectations are typically that future earnings will be higher, and thus the stock price is expected to rise as well. There is rarely any substitute for hard work and dedication, and this is typically true when following the stock market as well. Keeping track of all the information available can be a daunting task. However, putting in those few extra hours on stock homework may prove to be the difference between a winning portfolio and a losing one.

Digging deeping into the Dark Horse Resources Ltd (DHR.AX) ‘s technical indicators, we note that the Williams Percent Range or 14 day Williams %R currently sits at -60.00. 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. 

Investors are paying close attention to shares of Dark Horse Resources Ltd (DHR.AX). A popular tool among technical stock analysts is the moving average. 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. Currently, the 200-day MA is sitting at 0.01, and the 50-day is 0.01.

Dark Horse Resources Ltd (DHR.AX) currently has a 14-day Commodity Channel Index (CCI) of 173.21. 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.

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 Dark Horse Resources Ltd is currently at 64.43, the 7-day stands at 71.93, and the 3-day is sitting at 72.47.

Another technical indicator that may be a powerful resource for determining trend strength is the Average Directional Index or ADX. The ADX was introduced by J. Welles Wilder in the late 1970’s and it has stood the test of time. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. At the time of writing, the 14-day ADX for Dark Horse Resources Ltd (DHR.AX) is noted at 36.57. Many technical analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

Successful stock market traders and investors don’t usually just become that way overnight. There are often many years of experience behind those winning trades. The amount of data available to investors these days is staggering. Investors have to be able to focus on the provided information and decide which data should be followed and prioritized. Many investors will be keeping a watchful eye on the next round of company earnings reports. As companies start to report quarterly numbers, investors may be able to sift through the data and make some projections on how the stock will perform over the next few quarters.

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