Zayo Group Holdings Inc (ZAYO) shares are on close watch heading into the middle of the week as the price has moved below the Balance Step indicator, revealing a potential near-term bearish trend. The Balance Step formula is based on near-term moving averages to predict which direction a trend is heading.
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Investors may be taking a look at some additional technical numbers on shares of Zayo Group Holdings Inc (ZAYO) in order to get a fuller picture. The 14-day RSI is currently spotted at 48.09, the 7-day is at 42.74, and the 3-day is sitting at 31.97. 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.
In terms of CCI levels, Zayo Group Holdings Inc (ZAYO) currently has a 14-day Commodity Channel Index (CCI) of -78.96. Investors and traders may use this indicator to help spot price reversals, price extremes, and the strength of a trend. Many investors will use the CCI in conjunction with other indicators when evaluating a trade. The CCI may be used to spot if a stock is entering overbought (+100) and oversold (-100) territory. The 14-day ADX is 19.25. Many technical chart analysts believe that an ADX reading over 25 would suggest a strong trend. A level under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.
Investors may be studying other technical indicators like the Williams Percent Range or Williams %R. The Williams %R is a momentum indicator that helps measure oversold and overbought levels. This indicator compares the closing price of a stock in relation to the highs and lows over a certain time period. A common look back period is 14 days. Zayo Group Holdings Inc (ZAYO)’s Williams %R presently stands at -49.68. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would indicate an overbought situation. A reading from -80 to -100 would indicate an oversold situation. Looking at some moving average levels on shares of Zayo Group Holdings Inc (ZAYO), the 200-day is at 32.68, the 50-day is 34.13, and the 7-day is sitting at 34.52. Moving averages can help identify trends and price reversals. They may also be used to help spot support and resistance levels. Moving averages are considered to be lagging indicators meaning that they confirm trends. A certain stock may be considered to be on an uptrend if trading above a moving average and the average is sloping upward. On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward.