Technical Tracker: Following the Signals on Shares of GrowLife Inc (PHOT) – The Business Union

Focusing on shares of GrowLife Inc (PHOT), we have noted that the Percentage Price Oscillator Histogram line is currently below zero. Traders may be taking note of this level as a possible sell signal.

Traders may also be paying close attention to RSI levels on shares of GrowLife Inc (PHOT). The current 14-day RSI is presently sitting at 43.52, the 7-day is 38.91, and the 3-day is 36.06. The RSI, or Relative Strength Index is a popular oscillating indicator among traders and investors. The RSI operates in a range-bound area with values between 0 and 100. When the RSI line moves up, the stock may be experiencing strength. The opposite is the case when the RSI line is heading lower. Different time periods may be used when using the RSI indicator. The RSI may be more volatile using a shorter period of time. Many traders keep an eye on the 30 and 70 marks on the RSI scale. A move above 70 is widely considered to show the stock as overbought, and a move below 30 would indicate that the stock may be oversold. Traders may use these levels to help identify stock price reversals.

Another technical indicator that might serve as a powerful resource for measuring trend strength is the Average Directional Index or ADX. The ADX was introduced by J. Welles Wilder in the late 1990’s and it has stood the test of time. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. At the time of writing, the 14-day ADX for GrowLife Inc (PHOT) is noted at 83.64. Many technical analysts believe that an ADX value over 25 would suggest a strong trend. A reading under

Read More Here...