Abaxis Technical Analysis (NASDAQ:ABAX)
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 Abaxis 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 ABAX stock chart which creates a trading signal.
See Abaxis bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. Technical analysis uses an approach for Abaxis stock analysis that does not care for the fair value of a company but uses price and volume data only.
Abaxis Moving Average
Moving averages show the average price of ABAX 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 $83.2 is above the last closing price of $83 and the 50 day moving average of $83.11 is above the last closing price of $83. The 10 and 20 day periods can predict short term moving average trends.
Abaxis Bollinger Bands
Bollinger bands comprise of a center line usually ABAX SMA, and two ABAX stock price bands above and below it. The stock is considered overbought 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 lower band in the context of Abaxis bollinger bands.
Abaxis Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The Abaxis MACD indicator can be used to identify bullish and bearish trends for the stock.
Abaxis 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. 34.57 is the RSI value of ABAX stock.