Factom (FCT)

Current price: $ 2.03

24 hours price change: $ 0.34 (20.44%)

Factom ADX

The Average Directional indicator (or ADX) is a directional trading indicator that is used to identify a technical trend, in this case of the Factom. The trend that is being identified, can be both a positive trend as a negative trend in the pricedevelopment of Factom.

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for Factom. In this continuously updated article, we will explain the meaning and current trend of Factom. The current ADX analysis is based on the historical prices of Factom until February 24th, 2021.

In the chart below, the strength the trend is drawn, as well as the positive and negative directional indicators. The ADX (Average Directional Index) is the black line. The positive directional indicator (+DI) is the green line, and the negative directional indicator (-DI) is drawn in red.

Price chart for Factom from 08/23/2020 until 02/24/2021.

In the chart above, the development of the price for Factom is shown for the period from 08/23/2020 until 02/24/2021. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for Factom until 02/24/2021.

In the charts above, you can see the trends of the ADX, +DI and -DI. The current values of these three indicators for the Factom are listed in the table below.

Factom average directional index 31.08
Factom positive directional indicator 13.36
Factom negative directional indicator 36.08

 

Several signals can be gained from the chart above. First of all, the green line gives us an indication of the positive trend. The opposite line, the red one, indicates the negative trend for Factom.

When the green line tops the red line, the Factom is in a positive trend. However, when the situation turns around, the trend has also changed to a negative trend for Factom.

Furthermore, the black line gives the strength of the current trend of Factom, both positive and negative. The higher the black line (ADX), the stronger the trend.

Factom ADX score

The Average Directional Index (ADX) is used to measure the strength or weakness of a trend, not the actual direction. In general, when the positive directional indicator is higher than the negative directional in indicator, the trend of Factom is assumed to be positive. An important signal is when the -DI (red line) and +DI (green line) crosses over.

The current directional indicator gives a negative signal for Factom. The positive directional indicator for Factom is 13.36, which is lower than the negative directional indicator (36.08). Therefore, the trend that Factom follows is negative.

The current ADX value is 31.08, which tells us that the current trend is strong. Using these values, we can asume that the Factom will continue its downwards trend. In short, the current average directional index gives us a selling signal for the Factom. However, you should always be aware, since trends are changing from time to time.

 

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