Eden Energy (EDE)

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Eden Energy (EDE): Signals

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TECHNICAL ANALYSIS SUMMARY

Eden Energy (EDE.AX)


Indicator:

COMMOIDITY CHANNEL INDEX


Last Signal:

BEARISH


Trading: SELL @ $0.041
Signal Strength: MEDIUM
Recommendation:

Eden Energy (ASX:EDE) current trading has maintained the Commodity Channel Index to overbought status and signalled the continuation of the bearish trading conditions. Currently, the CCI is -71. The bearish signal has been active for 121 days. During the quarter, the highest CCI value was -13.


Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading exit. Indicator can be applied to the short/medium term timeframe, but the best results are obtained with larger cyclical swings in-line with the trend direction. This accumulation / distribution oscillator can provide guidance on the money flow direction from the companies recent trading.


The Commodity Channel Index indicator takes a security’s change in price and compares that to its average change in price. CCIs calculation produces positive and negative values that oscillate above and below a Zero Line. Typically a value of 100 is identified as overbought and a reading of -100 is identified as being oversold.

Calculation: 20 Period CCI:
1) CCI = (Typical Price - 20 Period SMA of TP) / (.015 x Mean Deviation);
2) Typical Price (TP) = (High + Low + Close)/3;


PROFILE: Eden Energy (EDE.AX)


Stock Exchange: ASX
Company: Eden Energy
Ticker Codes: | EDE.AX | ASX:EDE |

About Eden Energy (ASX:EDE):

Eden Innovations Ltd. provides various clean technology solutions. The company offers EdenCrete, a carbon nanotube enriched admixture for concrete; and OptiBlend, a retrofit dual fuel kit for diesel generator sets. It also provides Pyrolysis, a technology to produce carbon nanotube, and carbon nanofibre and hydrogen; Hythane, a blend of hydrogen and natural gas; and EdenPlast, a CNT enriched polymers and plastics. The company was formerly known as Eden Energy Ltd. and changed its name to Eden Innovations Ltd. in November 2016. Eden Innovations Ltd. was incorporated in 2004 and is based in Perth, Australia.

Top 10:

Commodity Channel Index

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Company Close Change (%) Volume Value Signal
TNG Tennant Creek Gold 0.13 13.6 1,108,745 287 BEARISH
ECX Eclipx 1.05 7.7 18,142,612 187 BEARISH
EVO Evolve Education 0.22 4.9 50,300 -8 BEARISH
IPD Impedimed 0.23 4.5 1,861,946 251 BEARISH
GBT Gbst Holdings 2.65 4.3 90,949 120 BEARISH
HFR Highfield Resources 0.78 4 75,707 279 BEARISH
ADA Adacel Technologies 0.72 3.6 123,303 -43 BEARISH
CCV Cash Converters International 0.15 3.4 2,152,010 -36 BEARISH
OML Ooh!Media 4.07 3.3 1,380,278 235 BEARISH
SDA Speedcast International 4.14 3.2 1,195,020 189 BEARISH
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