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| Negative Volume Index (NVI) is a traditional Sentiment Indicator for Procter and Gamble. Here the Indicator Plot is the Calibrated NVI which incorporates several enhancements suggested by Norman Fosback. The plot is the proportion of the daily NVI as compared to the past year's average daily NVI. The plot is orange below the unity line (neutral implication) and green above (bullish). |
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What to look for in an NVI plot for Procter and Gamble: In its modern form, the NVI is an elegant indicator, but requires some care in interpretation. The orange plot (NVI less than unity) is not considered bearish because a lowering of the NVI is a natural tendancy under many market conditions. When the plot is in the green area, it indicates that prices are rising on low volume sessions, which is contrary to the normal condition. This can be a tip off to "accumulation behaviour" on the part of someone or some group in the market. The indicator seems most significant when prices are falling and the NVI is rising, which indicates a market that is "buying on the dips". |
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| Because the NVI operates over a somewhat longer time frame than most technical indicators, it is of interest to track it over a longer period to get a feeling for how it works. This chart for Procter and Gamble covers the few years before the start of the chart at the top of the page. |
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| Weekly average closing altitude was 48.63 percent for the week ending 3/5/2010. Past values of the Closing Altitude indicator are marked by the blue line. 50 percent closing altitude is marked as the midline. If the closing prices happened to be exactly halfway between the high and low, they would be plotted on this midline. Values above the midline indicate that day traders have positive feelings toward PG while traces below the midline are a sign that speculators are afraid to hold on to the issue overnight. The latest data indicates a downward trend, with a slope of -12.93. Procter and Gamble stock prices are shown in red. |
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| The Volume Portion is low for the latest data at 0.46. Here the blue indicates the proportion between Up Volume and Down Volume. Again, the horizontal blue line represents the neutral point. Procter and Gamble share prices are overlaid in red. This is an important indicator for market timing, as a change in direction of the volume line may happen before the price turns.Short term, the slope of this indicator is negative at -0.26. |
Influence of Investor Sentiment on PG stock prices. Also, roadmap and Summary of most effective indicators: |
| Friday, March 12, 2010: We have news on ConAgra Foods, Inc., ticker symbol CAG. Signs of an over-bought condition have become noticable. Also, there are breaking events concerning Texas Instruments Incorporated and Convergys Corporation. From the News Archive: (3/11/2010 ) A favorable event happened at Amgen, Inc.. Meanwhile, bad news came from Coach, Inc., Fluor Corporation (NEW), and Automatic Data Processing. |