Cobalt

Cobalt closed up by 1.4% to 50.63 on 13 January 2021 and +5.48% on a weekly basis. Cobalt momentum was last calculated at +100.0/100 indicating positive momentum. Cobalt trend is +75.0/100 indicating a positive trend. Cobalt momentum exhaustion is 1.14 indicating Cobalt is neither oversold or overbought. Cobalt RSI is 72.61 .

Cobalt Chart

Cobalt

Cobalt Statistics

Cobalt closed at 50.63 on 13 January 2021. Cobalt trend was last calculated at +75.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. Cobalt momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. Cobalt momentum exhaustion is 1.14 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Cobalt is neither oversold or overbought. Cobalt RSI was last calculated at 72.61. Cobalt moving averages were last recorded as follows: 1-month moving average: 47.85 in an uptrend , 1-quarter moving average: 43.41 in an uptrend and 1-year moving average: 38.53 in a downtrend. Cobalt annual return was last recorded at None%, daily return was last recorded at 1.4%, and weekly return was last recorded at 5.48%. Cobalt historical 20-day volatility was last recorded at 22.4385%, MacroVar models monitor Cobalt statistics based on historical data since 1970.

Cobalt Factors

Crude Oil WTI

FactorSymbolLast ValuePredicted ValueR2MacroVar Signal
Global PMI Y/Y vs Crude Y/YCRUDEOIL.FACT.GLOBALPMI44.5563.7134-1.07085
Global PMI vs Crude OilCRUDEOIL.FACT.GLOBALPMI
Crude Oil vs Copper YYCOPPER.FACT.CRUDEOIL

Cobalt Trading Signals


MacroVar estimates the following signals: Cobalt momentum, Cobalt trend, Cobalt oscillator, Cobalt RSI and Cobalt returns.

Cobalt Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVarCobalt momentum signal ranges from -100 to +100. The Cobalt momentum signal is derived as the mean value from 4 calculations for the Cobalt. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Cobalt return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Cobalt momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Cobalt momentum signal moves from positive to negative value or vice-versa.

Cobalt trend

Cobalt trend signal ranges from -100 to +100. Cobalt trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Cobalt Closing price vs Cobalt moving average (MA) calculation: If Cobalt is greater than Cobalt MA value is +1, else -1, 2. Cobalt Moving average slope calculation: if current Cobalt moving average is higher than the previous MA, Cobalt upward slope +1, else -1
Cobalt trend model can be used as a trend strength indicator. Cobalt trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Cobalt trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Cobalt 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Cobalt is in an uptrend when Cobalt price is higher than the 52-week moving average and the Cobalt 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Cobalt oscillator and Cobalt RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Cobalt oscillator

The Cobalt oscillator estimated by MacroVar is the z-score of the current Cobalt price versus Cobalt 1-year simple moving average price. The formula for the Cobalt oscillator is:
Cobalt oscillator = (Current Price – 250 trading days Cobalt simple moving average price) / (250 days Cobalt price standard deviation)

Cobalt oversold conditions
Cobalt is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Cobalt is oversold it is often due for a rebound. Values of the Cobalt oscillator lower than -2.5 signify oversold conditions. It must be noted that the Cobalt oscillator must be analyzed ibn conjunction with the rest of Cobalt quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Cobalt RSI.
Cobalt overbought conditions
Cobalt is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Cobalt is overbought it is often due for a correction. Values of the Cobalt oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Cobalt quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Cobalt RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Cobalt is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During Cobalt uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Cobalt returns

MacroVar calculates Cobalt returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Cobalt returns = (Cobalt Closing Price – Cobalt Previous Price)/(Cobalt Previous Price)
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