Pilgrim Bancshares I (PLRM): Technicals in Focus

Traders might be scanning the levels on shares of Pilgrim Bancshares I (PLRM). After a recent indicator check, we have seen that Span A is right now higher than Span B. This indicator position may have traders watching for a bullish move.

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Keeping an eye on Moving Averages, the 50-day is 22.46, the 200-day is at 20.63, and the 7-day is 22.72 for Pilgrim Bancshares I (PLRM). Moving averages have the ability to be used as a powerful indicator for technical stock analysis. Following multiple time frames using moving averages can aid investors understand where the stock has been and aid think through where it may be possibly going. The simple moving average is a mathematical calculation that takes the average price (mean) for a given amount of time.

Pilgrim Bancshares I (PLRM) at present has a 14-day Commodity Channel Index (CCI) of 98.11. Typically, the CCI oscillates above and below a zero line. Normal oscillations tend to remain in the range of -100 to +100. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory. Although the CCI indicator was developed for commodities, it has become a trendy mechanism for equity evaluation as well.

Sharp investors may be surveying to examine the Williams Percent Range or Williams %R. Developed by Larry Williams, this indicator helps discover overbought and oversold market conditions. The Williams %R reveals how the current closing price compares to previous highs/lows over a specified timeframe. Pilgrim Bancshares I (PLRM)’s Williams Percent Range or 14 day Williams %R is sitting at 0.00. Typically, if the value heads above -20, the stock may be considered to be overbought. On the flip side, if the indicator goes under -80, this may signal that the stock is oversold.

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One technical indicator that may help in measuring the strength of market momentum is the Average Directional Index or ADX. At the time of writing, the 14-day ADX for Pilgrim Bancshares I (PLRM) is standing at 18.52. Many chart analysts believe that an ADX reading over 25 would suggest a strong trend. A reading under 20 would suggest no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX was created by J. Welles Wilder to aid think through how strong a trend is. In general, a rising ADX line means that an existing trend is gaining strength. The opposite would be the case for a falling ADX line.

Taking a look at alternate technical levels, the 3-day RSI stands at 77.92, the 7-day sits at 72.87 and the 14-day (most common) is at 71.07. The Relative Strength Index (RSI) is an Often times employed momentum oscillator that is used to add up the speed and change of equity price movements. When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market. This measurement is based on closing prices over a specific timeframe of time. As a momentum oscillator, the RSI operates in a set range. This range falls on a scale between 0 and 100. If the RSI is closer to 100, this may indicate a timeframe of stronger momentum. On the flip side, an RSI near 0 may signal weaker momentum. The RSI was originally created by J. Welles Wilder which was introduced in his 1978 book “New Concepts in Technical Trading Systems”.

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