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Primed for a Major Move? Technical Update on Bmo Global Infrastructure Index ETF (ZGI.TO)

Primed for a Major Move? Technical Update on Bmo Global Infrastructure Index ETF (ZGI.TO)

  • 25/11/2016

 November 25, 2016 WS Staff Writer    

Investors are taking another look at shares of Bmo Global Infrastructure Index ETF (ZGI.TO). The Relative Strength Index (RSI) is one of multiple popular technical indicators created by J. Welles Wilder. Wilder introduced RSI in his book “New Concepts in Technical Trading Systems” which was published in 1978. RSI measures the magnitude and velocity of directional price movements. The data is represented graphically by fluctuating between a value of 0 and 100. The indicator is computed by using the average losses and gains of a stock over a certain time period. RSI can be used to help spot overbought or oversold conditions. An RSI reading over 70 would be considered overbought, and a reading under 30 would indicate oversold conditions. A level of 50 would indicate neutral market momentum. Viewing the Relative Strength Index, the 14-day RSI is presently standing at 51.07, the 7-day is 56.4, and the 3-day is resting at 60.31.

In terms of Moving Averages, the 7-day is resting at 34.24. Moving averages have the ability to be used as a powerful indicator for technical stock analysis. Following multiple time frames using moving averages can help investors figure out where the stock has been and help determine where it may be possibly going. The simple moving average is a mathematical calculation that takes the average price (mean) for a given amount of time.

Currently, the 14-day ADX for Bmo Global Infrastructure Index ETF (ZGI.TO) is sitting at 14.91. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.

Investors have the ability to use technical indicators when completing stock research. At the time of writing, Bmo Global Infrastructure Index ETF (ZGI.TO) has a 14-day Commodity Channel Index (CCI) of 62.42. Developed by Donald Lambert, the CCI is a versatile tool that may be used to help spot an emerging trend or provide warning of extreme conditions. CCI generally measures the current price relative to the average price level over a specific time period. CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average.

Interested traders may be keeping an eye on the Williams Percent Range or Williams %R. Williams %R is a popular technical indicator created by Larry Williams to help identify overbought and oversold situations. Investors will commonly use Williams %R in conjunction with other trend indicators to help spot possible stock turning points. Bmo Global Infrastructure Index ETF (ZGI.TO)’s Williams Percent Range or 14 day Williams %R currently sits at -20.93. In general, if the indicator goes above -20, the stock may be considered overbought. Alternately, if the indicator goes below -80, this may point to the stock being oversold.

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