ELDER RAY INDEX
Trading: BUY @ $0.585
Signal Strength: MEDIUM
Volatility indicators highlight potential moves of a stock which can either move sharply in the updwards or downwards direction. This indicator allows stocks to be compared on a level playing field to highlight high and low volatility. Normally, falling markets are more likely to be volatile than a rising markets due to the emotion that gets tied to trading. Use volatility indicators in conjunction with other indicators to reduce exposure to false moves.
Polynovo (ASX:PNV) Elder Ray Index is signalling a Bullish movement
A technical indicator developed by Alexander Elder that measures the amount of buying and selling pressure in the market. This indicator consists of two separate indicators known as bull power and bear power. These figures allow a trader to determine the position of the price relative to a certain exponential moving average (EMA).
Calculation: Elder Ray Index (ERI):
1) Bull Power = Daily High - n-period EMA;
2) Bear Power = Daily Low - n-period EMA;
PROFILE: Polynovo (PNV.AX)
Stock Exchange: ASX
Ticker Codes: | PNV.AX | ASX:PNV |
Polynovo Limited, a medical device company, designs, develops, and manufactures dermal regeneration solutions in Australia. The company focuses on the development and commercialization of medical devices using its NovoSorb technology in the treatment of burns, surgical wounds, and negative pressure wound therapy. It offers BTM (biodegradable temporising matrix), a wound dressing intended for treatment of full-thickness wounds and burns. In addition, Polynovo Limited licensed its NovoSorb to Smith & Nephew for orthopaedic applications. The company was formerly known as Calzada Limited and changed its name to Polynovo Limited in November 2014. Polynovo Limited is based in Port Melbourne, Australia.
Elder Ray IndexDownload
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