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Delta Insurance
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Technical Analysis of Delta Insurance
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Delta Insurance. The general trend of Delta Insurance is BULLISH with 100.0% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Delta Insurance's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitionsBullish trend (100.0%) Bearish trend (-100.0%)
Overbought to neutralBullish pullback=Bearish reversal
Upper to lower neutralBullish correction=Bearish continuation
Nuetral to oversoldOversold=Oversold
Oversold to neutralBullish reversal=Bearish correction
Lower to upper neutralBullish continuation=Bearish pullback
Nuetral to overboughtOverbought=Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.


Score

Let's take a look at the Support & Resistance of Delta Insurance.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

  • Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 17.07 < 17.07 < 17.07.

The bearish price targets are: 14.23 > 14.23 > 14.23.

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Delta Insurance Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

  • Moving averages are lagging trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Delta Insurance. The current mas is .

The long score for the Moving Averages is 14/14.
The longshort score for the Moving Averages is 14/(-14 +14).

  • MA 20 trending up: The MA 20 is trending up. +1
  • Close > MA 20: The price is above the MA 20. +1
  • MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
  • MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
  • MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
  • MA 50 trending up: The MA 50 is trending up. +1
  • Close > MA 50: The price is above the MA 50. +1
  • MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
  • MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
  • MA 100 trending up: The MA 100 is trending up. +1
  • Close > MA 100: The price is above the MA 100. +1
  • MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
  • MA 200 trending up: The MA 200 is trending up. +1
  • Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Delta Insurance Daily Moving Averages Chart
2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

  • MACD is a lagging momentum indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Delta Insurance. The current macd is 0.04026244.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

  • MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Delta Insurance price going down in the near term. -2
  • MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Delta Insurance. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Delta Insurance price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
  • Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1
Delta Insurance Daily Moving Average Convergence/Divergence (MACD) ChartDelta Insurance Daily Moving Average Convergence/Divergence (MACD) Chart
2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.


Score

Let's take a look at the Directional Movement Index (DMI) of Delta Insurance. The current adx is 98.59.

The long score for the Directional Movement Index (DMI) is 4/7.
The longshort score for the Directional Movement Index (DMI) is 4/(-7 +7).

  • PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Delta Insurance shares, leading to potential upward momentum in its price. +1
  • PLUS_ID > MINUS_DI && ADX > 25 && ADX trending up: The ADX is above 25 and indicates a strong bullish trend. The ADX is trending up, so the bullish trend is strengthening.
Delta Insurance Daily Directional Movement Index (DMI) Chart
2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • Shows the current trend.
  • Shows potential entry signals.
  • Shows  potential exit signals.
  • Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Delta Insurance. The current sar is 17.07.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

  • Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1
Delta Insurance Daily Parabolic SAR Chart
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3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

  • Leading momentum indicator, meaning the signals are instant.
  • Ranges between 0 and 100.
  • Above 70 is considered overbought.
  • Below 30 is considered oversold.
  • Above or below 50 can also be used to determine price trend or support and resistance.
  • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
  • Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Delta Insurance. The current rsi is 100.00. The current phase is Overbought in bull market.

The long score for the Relative Strength Index (RSI) is 0/13.
The longshort score for the Relative Strength Index (RSI) is -1/(-13 +13).

  • Overbought in bull market: Short-term excessive buying, potential for pullback. Consider taking profits, be cautious of potential correction. -1
Delta Insurance Daily Relative Strength Index (RSI) ChartDelta Insurance Daily Relative Strength Index (RSI) Chart
3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

  • Leading momentum indicator, meaning the signals are instant.
  • Used to determine overbought and oversold areas much like the RSI.
  • Ranges between 0 and 100.
  • Above 80 is considered overbought.
  • Below 20 is considered oversold.
  • Consists of two lines named K and D.
  • K compares the highest high and lowest low on the selected price range.
  • The D line is a moving average of the K line.
  • Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Delta Insurance. The current phase is Oversold in bull market.

The long score for the Stochastic Oscillator is 0/6.
The longshort score for the Stochastic Oscillator is -6/(-6 +6).

  • STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
  • STOCH < 20: The STOCH %K is below 20 and oversold. -2
  • STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Delta Insurance price going down in the near term. -2
  • Trending down: The STOCH %K is trending down. -1
Delta Insurance Daily Stochastic Oscillator ChartDelta Insurance Daily Stochastic Oscillator Chart
3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

  • Lagging or leading Momentum indicator
  • When the CCI is above zero, the price is above the historical average
  • When the CCI is below zero, the price is below the historical average
  • Used for spotting trends
    • If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
    • If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Delta Insurance. The current cci is 39.11.

Delta Insurance Daily Commodity Channel Index (CCI) ChartDelta Insurance Daily Commodity Channel Index (CCI) Chart
3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

  • Lagging momentum indicator
  • Ranges between +100 and -100
  • Considered overbought above +50
  • Considered oversold below -50
  • It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Delta Insurance. The current cmo is 100.00.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

  • CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1
Delta Insurance Daily Chande Momentum Oscillator (CMO) ChartDelta Insurance Daily Chande Momentum Oscillator (CMO) Chart
3.5 Williams %R

 Shows the current price relative to the highest high over the last 14 days.
 

  • Lagging momentum indicator
  • Ranging between 0 and -100
  • Above -20 is considered overbought
  • Below -80 is considered oversold
  • Is prone to give false signals

Score

Let's take a look at the Williams %R of Delta Insurance. The current willr is -100.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is -1/(-1 +1).

  • WILLR < -80: The Williams %R is below -80. This indicates that the price is in oversold territory, suggesting a potential price correction or trend reversal to the upside. -1
Delta Insurance Daily Williams %R ChartDelta Insurance Daily Williams %R Chart
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4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

  • Lagging volatility indicator
  • Uses 3 bands: one upper, one lower and one in the middle
  • Works best when the middle band reflects an intermediate trend (MA20).
  • When the price is moving closer to the upper band, the market might be overbought
  • When the price is moving closer to the lower band, the market might be oversold 

Score

Let's take a look at the Bollinger Bands of Delta Insurance.

Delta Insurance Daily Bollinger Bands Chart
4.2 Average True Range (ATR)
Measures market volatility
  • Leading volatility indicator
  • Can be used to determine stop-loss positions
  • Calculated by:
    • Current high minus the current low
    • Current high minus the previous close
    • Current low minus the previous close
  • The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Delta Insurance. The current atr is 2.79167426.

Delta Insurance Daily Average True Range (ATR) ChartDelta Insurance Daily Average True Range (ATR) Chart
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5. Volume Indicators

5.1 On-Balance Volume (OBV)

 Measures market volatility

  • Leading momentum indicator
  • Calculation:
    • If the closing price is above the previous closing price: OBV = previous OBV + current volume
    • If the closing price is below the previous closing price: OBV = previous OBV - current volume
    • If the closing price is the same as the previous closing price than the OBV is the same.
  • Can be used to confirm price trends
  • Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Delta Insurance. The current obv is 6,674,980.

Delta Insurance Daily On-Balance Volume (OBV) ChartDelta Insurance Daily On-Balance Volume (OBV) Chart
5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

  • Lagging momentum indicator
  • Looks like RSI but uses volume as an extra metric (RSI only considers price)
  • Above 80 is considered overbought
  • Below 20 is considered oversold
  • Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Delta Insurance. The current mfi is 0.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -2/(-2 +2).

  • MFI < 50: -1
  • MFI < 20: -1
Delta Insurance Daily Money Flow Index (MFI) ChartDelta Insurance Daily Money Flow Index (MFI) Chart
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6. Summary

6.1. Notifications

TypeNotificationDate
PenkeCurrently no notifications for Delta Insurance.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

DateIndicatorSignal
2023-05-15CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2023-05-25WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2023-05-29SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-06-06MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2023-06-07MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2023-06-13MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2023-06-19SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2023-06-20MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2023-06-21CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2023-07-05CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2023-07-06CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2023-07-10MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2023-07-12CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2023-07-17STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2023-07-24CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2023-07-26CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2023-07-27SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-08-02SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2023-08-03SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2023-08-09SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2023-08-10STOCH SHORT EXITThe %K line crosses above the %D line.
2023-08-14SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH LONG EXITThe %K line crosses below the %D line.
2023-08-15SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-08-16SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-08-30SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-08-31SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2023-09-06SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-09-07SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-09-12SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-09-13SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-09-14SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-09-18SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-09-19SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-09-20SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2023-09-21SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-09-25SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-09-26SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2023-09-27SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-10-02SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-10-03SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-10-04SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-10-09SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-10-12MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2023-10-17SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-10-23MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2023-10-24MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2023-10-25STOCH LONG EXITThe %K line crosses below the %D line.
2023-10-26SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2023-11-27MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
2023-11-30MFI SHORT ENTRY LONG CLOSE20 crossover to downside

6.3. Candlestick Patterns

Delta Insurance Daily Candlestick Chart
DateCandlestick Pattern

6.4. Technical Score

Let's check the technical score of Delta Insurance based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than50100.000
Ma 20Greater thanMa 5014.210
Ma 50Greater thanMa 10014.102
Ma 100Greater thanMa 20014.065
OpenGreater thanClose14.230
Total4/5 (80.0%)
Penke

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