Technical Analysis: Agricultural Development Bank Ltd.

Review of Agricultural Development Bank Ltd. (ADBL) as of 11/10/2015

MACD

Current Statistics

      Close:  477.000

     Change:   -6.000

 MACD Value:   -1.431

Signal Line:   -1.682

The MACD can provide buy/sell indications in three ways, signal line crossovers, overbought/oversold conditions, and divergences. Crossovers Currently the MACD is bullish since it is trading above its signal line. The MACD crossed above its signal line today and has ranged from a high of 485.00 to a low of 474.00. Overbought/Oversold The MACD is not in an Overbought/Oversold range. Divergence There have been no divergence signals within the last 5 periods.

Support & Resistance

Agriculture Dev. Bank Ltd. broke above the upside resistance level of 440, 18 days ago.  This is a bullish sign.  This previous resistance level of 440 may now provide downside support.  Volume on the day of the breakout was quite light---87% below average.  The most reliable breakouts are accompanied with increased volume.  But since prices have only risen 5.66% since the breakout, the validity of the breakout is questionable.

  Trendline Analysis

Agriculture Dev. Bank Ltd. appears to be locked in a triangle formation bounded by a down trendline and an up trendline.  The most recently confirmed down trendline for Agriculture Dev. Bank Ltd. has an ending point currently at 542.  Expect prices to have some difficulty rising above this trendline.  A break above this trendline (particularly on heavy volume) would be a bullish sign.  The most recently confirmed up trendline for Agriculture Dev. Bank Ltd. has an ending point currently at 451.  Expect prices to have some difficulty falling below this trendline.  A break below this trendline (particularly on heavy volume) would be a bearish sign.

Relative Strength Index

The current value for the 14 period RSI is 51.77. The RSI can be used in several different ways to analyze a chart. Tops and Bottoms The RSI is not currently in a topping (above 70) or bottoming (below 30) range.    A buy or sell signal is generated when the RSI moves out of an overbought/oversold area.  The last signal was a Sell 65 days ago. Chart Formations The RSI often forms chart patterns (such as head and shoulders or rising wedges) that may or may not be visible on the price chart.  No such patterns can be observed at this time. Failure Swings (also known as support or resistance penetrations or breakouts) The RSI does not currently show any Failure Swings. Divergence The RSI and price are not diverging.

Bollinger Bands

On 11/10/2015, Agriculture Dev. Bank Ltd. closed below the upper band by 48.5%. Bollinger Bands are 26.05% wider than normal.  The current width of the bands (alone) does not suggest anything conclusive about the future volatility or movement of prices. The recent price action around the bands compared to the action of the Relative Strength Index (RSI) does not suggest any trading opportunities at this time.

Statistical Analysis

• Open    474.00
• High    485.00
• Low     475.00
• Close   477.00
• Change   -6.00 (-1.24%)

Volume Today: 8,443 shares. Statistical Table Smoothed r-squared         0.007 Standard Error            22.403 Linear Regression Slope   -0.461 Historical Volatility      0.359 The r-squared is currently at an extreme low. This indicates that there is not a strong trend intact. This value should increase soon. When it does, there is likely to be a new short term trend. The current slope of the close is negative moving lower indicating strength of the medium term downtrend. The standard error is 22.403. At this level there is somewhat greater than normal volatility around the current trend and traders are probably in mild disagreement, not allowing the security to trend. The price is probably not following the regression slope. Disclaimer:This commentary is not a recommendation to buy or sell.  This information should only be used by investors who are aware of the risk inherent in securities trading. Sharesansar accepts no liability whatsoever for any loss arising from any use of this content. Sharesansar also offers Technical Analysis Training. Click here for more information.