China Unicom Technical Analysis (NYSE:CHU)
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 China Unicom 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 CHU 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 China Unicom. The technical analysis form of China Unicom stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
China Unicom Moving Average
Moving averages help predict the price direction of CHU stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The 20 day moving average of $11.89 is below the last closing price of $11.99 and the 50 day moving average of $12.02 is above the last closing price of $11.99. The 10 and 20 day periods can predict short term moving average trends.
China Unicom 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 CHU stock. China Unicom bollinger bands show that the stock price is $11.99, upper band is 12.13, lower band is 11.66, and the average is 11.89.
China Unicom 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 China Unicom MACD indicator can be used to identify bullish and bearish trends for the stock.
China Unicom 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. 54.5 is the RSI value of CHU stock.