Traders Keeping Tungsten Mining NL (TGN.AX) on Close Watch As Shares Move

Needle moving action has been spotted in Tungsten Mining NL (TGN.AX) as shares are moving today on volatility -15.15% or -0.025 from the open. The ASX listed company saw a recent bid of 0.14 and 176666 shares have traded hands in the session.

Investors may be trying to decide if it is the right time to enter the equity market. Stocks have been performing well of late, and investors may be eager to catch the next potential move higher. When looking to put money into the stock market, investors might be working hard to create a strategy and choose specific stocks to add to the portfolio. Building a strategy can be tough, but sticking to a strategy can be even tougher. Sticking to the game plan when markets are in flux can greatly improve the investor’s chances of succeeding in the market.

Taking a deeper look into the technical levels of Tungsten Mining NL (TGN.AX), we can see that the Williams Percent Range or 14 day Williams %R currently sits at -58.33. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.

Tungsten Mining NL (TGN.AX) currently has a 14-day Commodity Channel Index (CCI) of 37.03. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, Tungsten Mining NL’s  14-day RSI is currently at 62.35, the 7-day stands at 52.12, and the 3-day is sitting at 25.89.

Currently, the 14-day ADX for Tungsten Mining NL (TGN.AX) is sitting at 64.38. 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.

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