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Chapter X: The mood of the market toward PetroCanada show up in the Daily Closing Altitude and other Sentiment Indicators.


Sentiment Analysis based on Historical Prices and Volumes of PCZ common stock.



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PCZ: Week-end Altitude

A well known sentiment indicator is the NVI or Negative Volume Index for PetroCanada. This version is includes several enhancements added by Norman Fosback. The indicator is the proportion of the daily NVI as compared to the average daily NVI over the past year. The plot is orange below the unity line (neutral implication) and green above (bullish).





Interpreting the Calibrated NVI for PetroCanada:

The NVI is an elegant indicator based on sound principles but it should not be interpreted in a simplistic manner. 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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Negative Volume Index (Fosback NVI) of PetroCanada

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 PetroCanada covers the few years before the start of the chart at the top of the page.




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PCZ: Weekly Average Closing Altitude

Values above the midline indicate that day traders have positive feelings toward PCZ while traces below the midline are a sign that speculators are afraid to hold on to the issue overnight. PetroCanada stock prices are shown in red.






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Daily Up Volume vs Down Volume of PetroCanada

Here the blue indicates the proportion between Up Volume and Down Volume. Again, the horizontal blue line represents the neutral point. PetroCanada 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.




For Clients: More Market Sentiment Analysis of PetroCanada

Influence of Investor Sentiment on PCZ stock prices. Also, roadmap and Summary of most effective indicators:

Public Pages : More PCZ Technical Analysis Chalk-Talk Subjects

PCZ Price Forecasts

PCZ Traditional Time Series Analysis

Moving Averages and MACD Indicators

Multi-Spectral Analysis

Political Season Trends PCZ

PCZ Transaction Volume Trends

PCZ Analysis of Short Term and Long Term Risk

PCZ Calendar Seasonality

Back to PCZ Index Page


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We do not recommend the purchase or sale of this or any other issue. Research shows that most people who invest in common stock will lose money. We do not advocate speculation in mutual funds or index funds. Pages on this site are for entertainment and academic purposes only. Charts and concepts are property of Hybrid Technical. All Rights Reserved. Content is Copyright 2010 by Hybrid Technical




Next Chapter 1:

Classical Analysis provides a good overview of the data for PetroCanada, and reveals patterns that will be explored with detail in later sections.


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