OFG Bancorp Technical Analysis (NYSE:OFG)
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 OFG 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 OFG stock chart which creates a trading signal.
View technical indicators like moving averages (SMA and EMA), and bollinger bands for OFG Bancorp. The technical analysis form of OFG 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.
OFG Bancorp Moving Average:
Moving averages show the OFG stock price trend. The two most popular types of moving averages are the Simple Moving Average (SMA) and the Exponential Moving Average (EMA). One needs to choose the duration of a moving average depending on the investment objective and investment horizon. For periods greater than 100, it takes a larger and longer OFG stock price movement for the moving average to change course.
OFG Bancorp Bollinger Bands:
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the OFG stock. The stock price is trading between the average and the upper band in the context of OFG Bancorp bollinger bands.
OFG Bancorp Moving Average Convergence Divergence or MACD:
The moving average convergence divergence or MACD is a technical indicator which helps gauge the stock price trend, as the indicator is useful in understanding the strength, direction and momentum of the stock price. The OFG Bancorp MACD indicator is below 0 indicating a bearish trend.
OFG 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. 59.09 is the RSI value of OFG stock. .