Magyar Bancorp Technical Analysis (NASDAQ:MGYR)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. Just by looking at the Magyar Bancorp 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 MGYR 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 Magyar Bancorp. The technical analysis form of Magyar Bancorp stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Magyar Bancorp Moving Average:
Moving averages show the average price of MGYR stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $10.48 is below the price of $10.65.
Magyar Bancorp Bollinger Bands:
Bollinger bands consist of two price bands above and below a center line for any company stock like Magyar Bancorp. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. The stock price is trading between the average and the upper band in the context of Magyar Bancorp bollinger bands.
Magyar Bancorp 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 Magyar Bancorp MACD line is below the signal line.
Magyar Bancorp Relative Strength Index:
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. If the RSI of MGYR stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position. .