Taking a Look Under the Hood at Hydrodec Group PLC (HYR.L) Shares

Shares of Hydrodec Group PLC (HYR.L) are on watch as they closed the most recent session above the Parabolic SAR line.  The current level of the shares currently stands at 1.80 at the time of writing. 

SAR stands for stop and reverse and it is a trend following indicator, designed to identify the turning point in price action. The parabolic SAR is shown on the charts as a series of small ‘dots’ that are placed either above or below the price. When the price is trending to the upside, the dots are below the price action and when the price is trending to the downside, the dots are above the price action.

When the share price closes above the upper Parabolic SAR, a trader could interpret a buy signal. The Parabolic SAR will move from being above price to below price and the trader would cover any existing short positions and reverse direction and buy long.

When the price closes below the lower Parabolic SAR, a trader could interpret a sell signal. The Parabolic SAR will move from being below price to above price and the trader would sell any existing long positions and reverse direction and go short.

In terms of Relative Strength Index for Hydrodec Group PLC (HYR.L), the 14-day RSI is currently noted at 56.71, the 7-day is 69.08, and the 3-day is sitting at 81.54. The Relative Strength Index (RSI) is a very popular momentum indicator used for technical analysis. The RSI can help show whether the bulls or the bears are currently strongest in the market. The RSI may be used to help spot points of reversals more accurately. The RSI was developed by J. Welles Wilder. As a general rule, an RSI reading over 70 would signal overbought conditions. A reading under 30 would indicate oversold conditions.

In terms of CCI levels, Hydrodec Group PLC (HYR.L) currently has a 14-day Commodity Channel Index (CCI) of 230.61. Investors and traders may use this indicator to help spot price reversals, price extremes, and the strength of a trend. Many investors will use the CCI in conjunction with other indicators when evaluating a trade. The CCI may be used to spot if a stock is entering overbought (+100) and oversold (-100) territory. The 14-day ADX is presently 26.18. Many technical chart analysts believe that an ADX reading over 25 would suggest a strong trend. A level 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.

Investors may be studying other technical indicators like the Williams Percent Range or Williams %R. The Williams %R is a momentum indicator that helps measure oversold and overbought levels. This indicator compares the closing price of a stock in relation to the highs and lows over a certain time period. A common look back period is 14 days. Hydrodec Group PLC (HYR.L)’s Williams %R presently stands at -18.92. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would indicate an overbought situation. A reading from -80 to -100 would indicate an oversold situation. Looking at some moving average levels, the 200-day is at 2.15, the 50-day is 1.85, and the 7-day is sitting at 1.65. Moving averages can help identify trends and price reversals. They may also be used to help spot support and resistance levels. Moving averages are considered to be lagging indicators meaning that they confirm trends. A certain stock may be considered to be on an uptrend if trading above a moving average and the average is sloping upward. On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward.