Huntington Bancshares Technical Analysis (NASDAQ:HBAN)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. Just by looking at the Huntington Bancshares stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the HBAN stock chart which creates a trading signal.
You can view Simple Moving Average (SMA 20 day, 50 day & 100 day), Exponential Moving Average (EMA 20 day, 50 day & 100 day) charts, and Bollinger Bands for Huntington Bancshares. Technical analysis uses an approach for Huntington Bancshares stock analysis that does not care for the fair "value" of a company but uses price and volume data only.
Huntington Bancshares Moving Average:
Moving averages show the average price of HBAN stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. The 20 day moving average of $19.31 is below the last closing price of $12.94 and the 50 day moving average of $18.14 is below the $12.94 price. The 10 and 20 day periods can predict short term moving average trends.
Huntington Bancshares Bollinger Bands:
Bollinger bands comprise of a center line usually HBAN SMA, and two HBAN stock price bands above and below it. The stock is considered over brought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. The stock price is trading between the average and the upper band in the context of Huntington Bancshares bollinger bands.
Huntington Bancshares Moving Average Convergence Divergence or MACD:
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Huntington Bancshares MACD indicator is below 0 indicating a bearish trend.
Huntington Bancshares Relative Strength Index:
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . If the RSI of HBAN stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position. .