ODEM (ODE)

Current price: $ 0.001400

24 hours price change: - (-)

ODEM 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 ODEM. The trend that is being identified, can be both a positive trend as a negative trend in the pricedevelopment of ODEM.

The ADX was primarily developed for commodities, however it is also in use for stock and currency technical analysis, as well as for ODEM. In this continuously updated article, we will explain the meaning and current trend of ODEM. The current ADX analysis is based on the historical prices of ODEM until November 30th, 2022.

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 ODEM from 05/30/2022 until 11/30/2022.

In the chart above, the development of the price for ODEM is shown for the period from 05/30/2022 until 11/30/2022. This same timeframe has been used in the average directional indicator chart below.

Average directional indicator for ODEM until 11/30/2022.

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

ODEM average directional index 99.48
ODEM positive directional indicator 190.93
ODEM negative directional indicator 0.50

 

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 ODEM.

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

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

ODEM 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 ODEM 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 positive signal for ODEM. The positive directional indicator for ODEM is 190.93, which is higher than the negative directional indicator (0.50). The trend that the ODEM follows is a positive one.

The current ADX value is 99.48, which tells us that the current trend is strong. Using these values, we can asume that the ODEM will continue its upwards trend. In short, the current average directional index gives us a buying signal for the ODEM. However, keep an eye on turning trends.

 

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