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Signal Watch: What’s Unfolding For Topbuild Corp (BLD)?

Wall Street pre-market Wednesday was cautious, with US stock market index futures pointing to an opening bell roughly even with Tuesday’s close, with the tech-centric Nasdaq possibly opening lower. European bourses were choppy with Frankfurt in the green, and Asian exchanges closed mixed. Markets have eyes upon the 2 pm ET rate announcement from the US Federal Reserve, and also Fed forecasts of economic growth, inflation and interest rates, which may provide clues if three rather than two rate increases will follow in 2018. Facebook (FB) faces ongoing criticism and lawsuits regarding sale of user data. Bitcoin was trading at $9,070, oil was at $63.90 and 10-year US Treasuries offered 2.88%. 

Tracking the indicators for Topbuild Corp (BLD), we can now see that the Chaikin Oscillator reading is below zero. Tracking this signal, traders may be watching for signs of a possible bearish trend forming.

Investors may already be plotting the course for the next few quarters. Many investing decisions may need to be made after the next round of company earnings reports are released. Studying the numbers can help the investor see whether or not the stock’s prospects look good in the near term as well as the longer term. It remains to be seen whether optimism in the stock market will continue into the next year. Investors will closely be monitoring the major economic data reports over the next couple of months. While nobody can be sure which way the momentum will shift, preparing for multiple market scenarios may greatly help the investor if changes start to occur.  

Investors and Traders using technical analysis to review stocks may be focusing on the ATR or Average True Range. Currently, Topbuild Corp (BLD) has a 14-day ATR of 3.22. The Average True Range is an investor tool used to measure stock volatility. The ATR is not used to figure out price direction, just to measure volatility. The ATR is an indicator developed by J. Welles Wilder. Wilder has developed multiple indicators that are still quite popular in today’s investing landscape. The general interpretation of the ATR is the higher the ATR value, the higher the volatility.

Taking a closer look from a technical standpoint, Topbuild Corp (BLD) presently has a 14-day Commodity Channel Index (CCI) of 111.88. Typically, the CCI oscillates above and below a zero line. Normal oscillations tend to stay in the range of -100 to +100. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory. Although the CCI indicator was developed for commodities, it has become a popular tool for equity evaluation as well.

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For further review, we can take a look at another popular technical indicator. In terms of moving averages, the 200-day is currently at 64.31, the 50-day is 81.69, and the 7-day is resting at 87.73. Moving averages are a popular trading tool among investors. Moving averages can be used to help filter out the day to day noise created by other factors. MA’s may be used to identify uptrends or downtrends, and they can be a prominent indicator for detecting a shift in momentum for a particular stock. Many traders will use moving averages for different periods of time in conjunction with other indicators to help gauge future stock price action.

Currently, the 14-day ADX for Topbuild Corp (BLD) is sitting at 23.61. In general, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.

Investors may be watching other technical indicators such as the Williams Percent Range or Williams %R. The Williams %R is a momentum indicator that helps measure oversold and overbought levels. This indicator compares the closing price of a stock in relation to the highs and lows over a certain time period. A common look back period is 14 days. Topbuild Corp (BLD)’s Williams %R presently stands at -10.93. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would indicate an overbought situation. A reading from -80 to -100 would indicate an oversold situation.

Investors are often trying to figure out the best way to analyze the stock market. When it comes to stock research, investors may use fundamental analysis, technical analysis, or a combination of both. Boiling down the two techniques, studying the fundamentals puts the focus on factors that may influence specific stocks, and studying the technicals puts the focus on market behavior analysis. Investors who study the fundamentals are typically trying to understand why stocks and markets move the way they do. Technical analysts are more concerned with spotting trends and trying to measure the characteristics of those trends. Some investors may prefer one method of stock research over another, but many investors may use a combination of both methods to help make sure that all the bases are covered.

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