Patriot National Bancorp Technical Analysis (NASDAQ:PNBK)
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. A PNBK stock chart pattern can give those who understand technical analysis an indication of which way PNBK stock is headed, but cannot predict with 100% certainty as to what can happen to the Patriot National Bancorp stock price.
See Patriot National Bancorp bollinger bands, SMA (200 day moving average, 50 day moving average) and exponential moving averages. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Patriot National Bancorp stock analysis.
Patriot National Bancorp Moving Average:
PNBK stock price movements can be forecasted by using triggers based on moving averages, which are also some of the simplest technical indicators. The way the averages are calculated in each of the 2 popular cases, that is SMA and EMA varies, however the interpretation of Patriot National Bancorp chart patterns after the calculations remain the same. The 100 day moving average of 26.8 is below the last closing price of 14.65. A rise in trend over the long term indicates a long term uptrend. Similarly a falling PNBK moving average implies that Patriot National Bancorp stock price is falling.
Patriot National 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 PNBK stock. Currently the stock price of $14.65 is in the lower range of Patriot National Bancorp bollinger bands.
Patriot National 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 Patriot National Bancorp MACD indicator is below 0 indicating a bearish trend.
Patriot National Bancorp Relative Strength Index:
The RSI is a valuable tool to determine overbought / oversold stocks and measures the recent performance of a stock in relation to its own stock price history. 60 is the RSI value of PNBK stock. .