Technical Watch: SuperTrend Noted Below Stock Price for PetroQuest Energy Inc (PTQEP)

Traders might be following the signals on shares of PetroQuest Energy Inc (PTQEP). After a recent look, we can see that the SuperTrend line is now below the current stock price. This signal may alert traders that the stock has possibly entered into sell territory.

Tracking other technical indicators, the 14-day RSI is presently standing at 45.91, the 7-day sits at 43.80, and the 3-day is resting at 40.90 for PetroQuest Energy Inc (PTQEP). 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”.

We can also do some further technical analysis on the stock. At the time of writing, the 14-day ADX for PetroQuest Energy Inc (PTQEP) is 15.51. Many technical chart 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. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.

A commonly used 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 certain period of time. Moving averages can be very helpful for identifying peaks and troughs. They may also be used to assist the trader figure out proper support and resistance levels for the stock. Currently, the 200-day MA for PetroQuest Energy Inc (PTQEP) is sitting at 14.25.

PetroQuest Energy Inc (PTQEP) currently has a 14-day Commodity Channel Index (CCI) of -163.47. 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.

PetroQuest Energy Inc (PTQEP)’s Williams Percent Range or 14 day Williams %R presently is at -68.25. 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.

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