Date: Jun 25, 2018
Company shares of Vanadium One Energy Corp (VONE.V) have seen the Rank Correlation Indicator climb higher over the past 3 trading days, suggesting that it could be nearing a turning point if the reading crosses the 80 mark.
The Rank Correlation Indicator, or RCI will find the highest high and the lowest low with a given range and will find out if the security is over or undervalued. It is very much like Stoachastic but with different time periods. Created by Charles Spearman, the indicator oscillates between +100 and -100. At +100 there is a maximum positive correlation between rising price and date. However, if the indicator shows -100, the price falls continuously while the date continues to rise. There is hence a maximum negative correlation. The interpretation is analogous to that for other oscillators. If RCI is higher than 80 (overbought), then a sell signal is triggered, and if RCI is lower than -80 (oversold), a buy signal is given.
In order to get a full picture of the charts, we can take a look at some additional key indicators. Vanadium One Energy Corp (VONE.V) currently has a 14 day Williams %R of 0.00. In general, if the level goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may signal that the stock is oversold. The Williams Percent Range or Williams %R is a technical indicator that was developed to measure overbought and oversold market conditions. The Williams %R indicator helps show the relative situation of the current price close to the period being observed.
