WUBA upgraded to bullish
Tech Rating: 1.5 (November 11th pre-open)
Tech ratings are 3 to -3 indicating bullish to bearish; a zero is neutral to cautionary.
MACD: bullish; Stochastic: bullish; CCI: bullish
Issue? Moving average juxtaposition is not bullish and our unpublished trend strength indicator is mid range.
A possible new uptrend is forming.
Price and moving averages:
58.com has closed above its short term moving average.
Short term moving average is currently below mid term, and below long term moving averages.
Mid term moving average is currently below long term
The relationship between price and moving averages is: neutral in short term, and bearish in mid-long term.
Bollinger Bands:
WUBA has closed below upper band by 6.7%.
Bollinger Bands are 35.3% narrower than normal.
The current width of the bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
CCI is now in positive range and generated a buy signal on prior close.
MACD
Crossovers:
Currently MACD is bullish since it is trading above its signal line.
MACD crossed above its signal line 33 bars ago.
Since MACD crossed its moving average, WUBA's price has increased 10.40%
and has ranged from a high of 41.96 to a low of 34.64
MACD is not in an overbought/oversold range.
There have been no divergence signals within the last 5 periods.
**This commentary is for educational purposes only. It is not a recommendation to buy or sell. Use at your own risk.
About the Technical Rating Indicator
The Technical Rating Indicator combines established methods of technical analysis along with regression analysis and a weighting system based on signal strength to provide a technical rating. Note that none of the indicators use standard settings, and none of the settings have been optimized to fit a particular data set (avoiding in-sample bias).
The result is a clean, proprietary technical research rating system.
The Technical Rating Indicator is expressed in values ranging from -3 to +3.
A technical rating of -3 is issued when all individual indicators are exhibiting readings consistent with previous periods of negative prices (i.e. conditions are “bearish” for the stock price, based on historical analysis). A technical rating of +3 is issued when the individual indicators are exhibiting readings consistent with previous periods of positive price movement (i.e. conditions are “bullish” for the stock, based on historical analysis). Intermediate readings indicate a mix of signals from the inputs to the Technical Rating Indicator.
Disclosure: the firm does not currently hold a position in this stock and has no plans to create a long or short position over the next 5 business days.
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