City of London Investment Trust PLC (CTY.L) Ichimoku Reading Holds Below the Cloud
L) recently touched 421.50, which places the stock below the Ichimoku cloud, indicating bearish momentum and a potential sell signal for the equity. Shares of City of London Investment Trust PLC opened the last session at 418.10, touching a high of 421.50 and a low of 418.10 , yielding a change of 0.50. Ichimoku Kinko Hyo is a technical trend trading charting system that has been used by Japanese commodity and stock market traders for decades and is gaining increasing popularity amongst western stock market traders, being commonly referred to as Ichimoku Cloud charts. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. At the time of writing, the 14-day ADX for City of London Investment Trust PLC (CTY.