OTIS, a stock ticker symbol for Otis Worldwide Corporation, recently experienced a significant change in its ADX indicator. The ADX, or Average Directional Index, is a technical indicator used to measure trend strength. It recently crossed below the ADXR, or Average Directional Index Rating, which is a measure of the ADX’s recent direction. This has occurred 12 times before, and each time the price movement of OTIS has been affected.
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Historically, the price of OTIS has increased in the next 30 days 58% of the time, with a median price movement of $2.45. The price has increased in the next 90 days 58% of the time, with a median price movement of $1.21. This suggests that the recent crossing of the ADX and ADXR could be a good indicator of future price increase.
While the ADX and ADXR crossing is not an absolute guarantee of future price increases, the historical data suggests that it could be a good indicator of future price movement. As with any investment, investors should do their own research and make sure that they understand the risks before investing.