MACD Indicator with Buy Signal
The six-month chart of the Australian water treatment technology developer Parkway Corporate (ASX: PWN: FRA: 4IP) shows the blue upward trend line, which has been rising since the end of August, remains unbroken so far – even though there has been a cap at 0.013 Australian dollars to date.
Both moving averages continue to rise, although the momentum of the 200-day line has recently slowed significantly. In addition, the medium-term technical buy signal, created by the 100-day line crossing above the 200-day line, remains valid.
In the last days of the previous year, the MACD was able to generate a buy signal by the blue line crossing above the red line, which has been in danger several times since then, but still remains valid. A jump above the 100 mark back into positive territory was achieved by the trend confirmer (for the first time since November) in recent days. The Overbought/Oversold indicator, which last reached a value of 2.0 in September, considered overbought, is far from any overheating. It is currently at 0.5, very close to the neutral middle position. Encouraging is the uninterrupted capital inflow into the stock since the end of December, which the Chaikin Money Flow signals through its course (even slightly rising) in the green zone.
