Technical Indicators: Advance-Decline Line

Last update - 28 August 2019 By Rivkin

The advance-decline (AD) line is a breadth indicator that reflects the number of advancing stocks less those declining to give an indication as the participation by the all securities in the movement of a broader index. The line is positive and moves higher when the number of advances exceeds those in decline and vice versa. When compared with the index the AD line should confirm similar movements in the same direction, with failure to do so forming either bullish or bearish momentum divergence, highlighting the risk of a reversal.

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