Relative Strength Under the Microscope:Ascena Retail Grp Cmn (ASNA) – Nelson Research

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Relative strength is a momentum-investing technique that compares the performance of a stock to that of the overall market.  Traders and investors can target the strongest performers as compared to the market overall, creating investment recommendations by using specific calculations.  Relative strength assumes a stock whose price has been moving upward will continue to rise.  Traders and investors who use relative strength have specific entry and exit strategies.  Traders and investors using this technique buy securities that show signs of strength and then sell them as when they begin to appear weak.  Relative strength is also applied to more complex strategies.  Investors use relative strength in order to single out top performers within a group of potential investments, comparing the performance of each commodity to other securities or to a specific benchmark index.  There are multiple ways to calculate relative.  Relative strength doesn’t take into account the risk assessment with a particular investment.  Ascena Retail Grp Cmn (ASNA)’s Nine-Day Relative Strength is 48.94% and its Fourteen-Day Relative Strength is 43.22%.  Looking back further, Twenty-Day Relative Strength is 40.01% and its Fifty-Day Relative Strength is 40.01%.  Finally, its One-Hundred-Day Relative Strength is 40.94%.

The Open is the start of trading on a securities exchange.  The open indicates the start of an official business day for an exchange, meaning that transactions may begin for the day.  The different exchanges have different opening times.  Ascena Retail Grp Cmn (ASNA) opened at $2.2.  Its high for the day was $2.25, its low was $2.1 and last trade price was $2.18.   Standard Deviation is a measure of the current average variability of return.  A move of (plus or minus) 1 std deviation means a 33% odds for a major price move, whereas a move of (plus or minus) 3 std deviations means a 1% odds for a major price move.  Ascena Retail Grp Cmn (ASNA)’s Standard Deviation is -0.58.

Weighted Alpha is a measure of how much a stock has risen or fallen over a one-year period with a higher weighting for recent price activity.  Ascena Retail Grp Cmn (ASNA)’s Weighted Alpha is -69.00.  Ascena Retail Grp Cmn (ASNA)’s TrendSpotter Opinion, the signal from Trendspotter, a Barchart trend analysis system that uses wave theory, market momentum & volatility in an attempt to find a general trend, is Sell. 

Barchart Opinions show investors what a variety of popular trading systems are suggesting.  These Opinions take up to 2 years’ worth of historical data and runs the prices through thirteen technical indicators.  After each calculation, a buy, sell or hold value for each study is assigned, depending on where the price is in reference to the interpretation of the study.  Today’s opinion, the overall signal based on where the price lies in reference to the common interpretation of all 13 studies, for Ascena Retail Grp Cmn (ASNA) is 24% Sell.  Relative Strength is part of technical analysis.  Technical analysis is a trading tool used to judge securities as well as attempt to forecast their future moves by analyzing trading activity statistics like volume and price fluctuations.  Where fundamental analysts attempt to evaluate the intrinsic value of a security, technical analytics observe charts of price movements and forecast future price movements through various analytical tools to evaluate a security’s strength or weakness. 

Technical analysts believe in the idea that price changes of a security and past trading activity are better indicators of that given security’s future price movements than simply the intrinsic value of said security.  Technical analysis was created out of simple concepts learned from Dow Theory, the theory of trading market movements that originated from the early writings of Charles Dow.  The two basic assumptions of Dow Theory say analysis are: 1.) market price discounts all the factors that could influence a security’s price and: 2.) market price movements are not simply random but move in an identifiable pattern and that repeat over time.  The first assumption, that price discounts everything, means the market price of a commodity at any given point in time perfectly reflects all available information, and re represents the security’s true fair value.  It is based on the idea the market price always reflects the sum total knowledge of the market.

The second basic assumption, the notion that price changes are not just random, leads to the belief that both short term and long term market trends can be identified, allowing traders to profit from investing when following the existing trend.  Technical analysis is used in order to forecast the price movement of all tradable instruments that are subject to the forces of supply and demand, including currency pairs, bonds, stocks, and futures.  Technical analysis can be viewed simply as the study of supply and demand as reflected in market price movements of securities.  It is usually applied to price changes, though analysts may also track numbers other than price, such as open interest figures or trading volume.

Many technical indicators have been developed by analysts over the years in an attempt to forecast future price movements accurately. Some indicators are focused on determining the how strong a trend is and also the possibility of its continuation while other indicators focus on identifying current market trends, including resistance areas and support.  Commonly used technical indicators include moving averages, trendlines, and momentum indicators like the moving average convergence divergence (MACD) indicator.  Technical analysts apply these indicators to charts of differing timeframes.  Short-term traders may use charts covering one-minute timeframes to hourly or even four-hour timeframes, and traders analyzing more long-term price movements look over daily, weekly or monthly charts.

Disclaimer: The advice provided on this website is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs.  Where quoted, past performance is not indicative of future performance.

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