Codexis Inc (CDXS) Mass Index Breaches Key Level

The Mass Index Volatility reading for Codexis Inc (CDXS) has dropped below 26.5, indicating a potential move is ahead for the shares.  The Mass Index is a volatility indicator developed by Donald Dorsey and discussed in the June 1992 issue of Technical Analysis of Stocks & Commodities. By analyzing the narrowing and widening of trading ranges, the indicator identifies potential reversals based on market patterns that aren’t sometimes considered by technical analysts largely focused on singular price and volume movements.  The Mass Index indicator uses the difference between the high and low in a given interval to detect potential price reversals. The main assumption is that prices tend to reverse when ranges widen beyond historical averages. Since this difference is constantly changing (ranges are always widening and narrowing), traders can use the Mass Index to generate trade indicates, which occur when the index line (typically 25 periods) moves above 27 and then drops below 26.5.

Investors and traders continue to monitor technical levels of shares of Codexis Inc (CDXS). A often used gizmo among technical stock analysts is the moving average. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain course of time. Moving averages can be very useful for identifying peaks and troughs. They may also be used to aid the trader determine proper support and resistance levels for the stock. Currently, the 200-day MA is sitting at 14.71, and the 50-day is 16.97.

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The 14-day ADX for Codexis Inc (CDXS) is right now at 31.69. In general, and ADX value from 0-25 would represent an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would signify a very strong trend, and a value of 75-100 would point to an extremely strong trend. Checking in on some alternate technical levels, the 14-day RSI is right now at 66.78, the 7-day stands at 63.23, and the 3-day is sitting at 40.25. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of equity price movements. The RSI was developed by J. Welles Wilder, and it oscillates between 0 and 100. Generally, the RSI is considered to be oversold when it falls below 30 and overbought when it heads above 70. RSI can be used to locate general trends as well as finding divergences and failure swings.

At the time of writing, Codexis Inc (CDXS) has a 14-day Commodity Channel Index (CCI) of 69.34. Developed by Donald Lambert, the CCI is a versatile gizmo that may be used to aid detect 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 course. CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average. Investors may be watching alternate technical indicators such as the Williams Percent Range or Williams %R. The Williams %R is a momentum indicator that helps sum oversold and overbought levels. This indicator compares the closing price of a stock in relation to the highs and lows over a certain time course. A common look back course is 14 days. Codexis Inc (CDXS)’s Williams %R at present stands at -25.71. 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.

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