On a recent bid today, Kraken Robotics Inc. (TSX-V:$PNG) touched 0.175. However, the Tenkan line is still hovering below the Kijun Sen line, indicating bearish momentum. It is unclear whether we can expect the shares to break down further in the future.
The Tenkan Sen and Kijun Sen Cross Signal is sent out when the Tenkan Sen – or Turning line – crosses the Kijun Sen line, sending a bearish signal when the Tenkan moves from above to below the Kijun Sen. There are five different kinds of signals based on the Ichimoku Kinko Hyo system.
These signals are not stand-alone indicators, however. They are required to be visualized in the context of an overall chart. The Ichimoku Kinko Hyo system is specifically designed for charting, which means that it must be taken as a whole.
We can also take a look at some additional technical indicators for the sonar company.
The Relative Strength Index is a oscillating momentum indicator that can help identify overbought and oversold situations. The scale rotates between 0 and 100, with anything below 30 indicating a possible oversold scenario, and anything about 70 indicating a possible overbought scenario. RSI can be measured across any given time period. Kraken has a 3 day RSI of 57.86, a 7 day RSI of 48.83, and a 14 day RSI of 49.69.
The Commodity Channel Index is a technical indicator that was originally developed for the commodities market. By applying it to the stock market, the CCI can be used to detect oversold and overbought situations. Generally, the CCI rating moves between -100 and +100, with anything near -100 signalling an oversold situation and anything around +100 indicating an overbought situation. The company currently has a 14 day CCI of -95.24.
The Williams Percentage Range is a momentum indicator that measures when stocks reach oversold and overbought levels. The indicator compares closing stock price to highs and lows over a given period. The scale moves from 0 to -100, with anything about -80 indicating an oversold situation, while anything below -20 indicates an overbought situation. Kraken currently has a 14 day Williams %R of -70.00.
The Average Directional Index is used to spot trend strength. The indicator moves from 0 to 100, with 0-20 indicating no trend, 20-25 indicating no clear trend, and 25+ indicating a strong trend that increases in strength parallel to increases in the ADX. This indicator is often used in conjunction with the Plus Directional Index and the Minus Directional Index. Kraken has a 14 day ADX that sits at 19.04.
We can also take a look at the stock’s moving averages. Moving averages are the average price of a stock over a given period of time. They are helpful for identifying peaks and valleys, illustrating bearish or bullish trends, and filtering out daily noise. The company currently has a 200 day moving average of 0.17.
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