Investor Corner: Chart Review for Encana Corp (ECA)

Investors may be watching indicator signals on shares of Encana Corp (ECA). After a recent look, we have noted that the beta research opinion is currently Buy. This signal uses a system combining volatility, momentum, and wave theory to help spot the general trend. In terms of direction, the signal is currently Weakening. This signal may indicate if the Buy or Sell is weakening or gaining strength, or if the Hold is leaning towards a Buy or Sell. The beta research strength signal is currently Weak. This signal is compared to the historical performance where maximum would be considered the strongest, and minimum would be seen as the weakest. 

Focusing in on some other information, we can see that the stock has a current weighted alpha of +7.01. The weighted alpha measures how much the stock has increased or decreased over the period of one full year. The weighting puts greater emphasis on more recent activity offering a more relevant measure for short-term technical analysts to use. A positive weighted alpha reading indicates that shares have risen over the past year. A negative reading would indicate that the stock is down over that same time period. Technical traders often use the weighted alpha to help discover stocks that are developing momentum. Current and potential shareholders will be earnestly watching to see how the stock performs as we near the midway point of the calendar year. Tracking current trading session activity on shares of Encana Corp (ECA), we can see that the stock price recently hit 11.4. Since the start of the session, the stock has reached a high of 11.64 and hit a low of 11.38.

Taking a look at some indicators on shares of Encana Corp (ECA), we note that the reading from the 40-day commodity channel index is currently Hold. The CCI indicator is primarily used to identify oversold and overbought levels. The signal direction is currently Falling. Checking on the 50-day parabolic time/price signal, we can see the signal is presently Sell. The signal direction is currently reading Weakening. Investors may opt to study a variety of different indicators in order to gain further insight on company share action. Traders may have increased interest when shares are nearing key support and resistance levels.

Encana Corp (ECA) currently has 5 day MA of 11.42. Investors may use moving averages for multiple purposes. Some may use the moving average as a primary trading tool, while others may use it as a back-up. Investors may be looking for when the stock price crosses a certain moving average and then closes on the other side. These moving average crossovers may be used to help identify momentum shifts, or possible entry/exit points. A cross below a particular moving average may signal the start of a downward move. On the other end, a cross above a moving average may suggest a possible uptrend. Investors may be focused on many different time periods when studying moving averages. The stock currently has a 200 day MA of 10.75.