Momentum Indicator for ERX turns negative, indicating new downward trend
ERX saw its Momentum Indicator move below the 0 level on December 04, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 96 similar instances where the indicator turned negative. In of the 96 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Moving Average Convergence Divergence Histogram (MACD) for ERX turned negative on December 06, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 40 similar instances when the indicator turned negative. In of the 40 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ERX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for ERX entered a downward trend on December 08, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where ERX's RSI Oscillator exited the oversold zone, of 29 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ERX advanced for three days, in of 340 cases, the price rose further within the following month. The odds of a continued upward trend are .
ERX may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category Trading
ERX and
Correlation & Price change
A.I.dvisor indicates that over the last year, ERX has been loosely correlated with SSO. These tickers have moved in lockstep 42% of the time. This A.I.-generated data suggests there is some statistical probability that if ERX jumps, then SSO could also see price increases.
| Ticker / NAME | Correlation To ERX | 1D Price Change % | ||
|---|---|---|---|---|
| ERX | 100% | +2.11% | ||
| SSO - ERX | 42% Loosely correlated | +0.83% | ||
| SPXL - ERX | 42% Loosely correlated | +1.20% | ||
| SOXL - ERX | 19% Poorly correlated | +2.24% | ||
| TQQQ - ERX | 19% Poorly correlated | +1.20% | ||
| QLD - ERX | 19% Poorly correlated | +0.78% |