The Codan Ltd (ASX:CDA) 14-day RSI has just moved below the 20 level (1st move below 20 in at least 20-days). Since 2003, indicator weakness below 20, was usually the forerunner to some short-term upside.
The 16-day average return, following CDA's 14-day RSI move below 20, was 8.53% with a win rate of 10 from 11, median 5.59%, & standard deviation of 13.33%.
The 16-day average relative return vs the All Ordinaries Index was also reasonably robust at 5.34%, with a relative win rate of 10 from 11, median 4.13%, & standard deviation of 10.57%.
The average price target of the 6 analysts surveyed by Refinitiv is $18.04 or approximately 30% higher than the current price.
The 16-day average return, following CDA's 14-day RSI move below 20, was 8.53% with a win rate of 10 from 11, median 5.59%, & standard deviation of 13.33%.
The 16-day average relative return vs the All Ordinaries Index was also reasonably robust at 5.34%, with a relative win rate of 10 from 11, median 4.13%, & standard deviation of 10.57%.
The average price target of the 6 analysts surveyed by Refinitiv is $18.04 or approximately 30% higher than the current price.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.