Cleco Technical Analysis (NYSE:CNL)
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. The Cleco stock price data and volume are plotted in CNL stock charts and these trading charts form the basis of technical analysis.
See Cleco bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. The technical analysis form of Cleco stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Cleco Moving Average
Moving averages show the average price of CNL 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 $52.33 is below the last closing price of $55.36 and the 50 day moving average of $50.88 is below the last closing price of $55.36. The 10 and 20 day periods can predict short term moving average trends.
Cleco Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Cleco. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Currently the stock price of $55.36 is in the upper range of Cleco bollinger bands.
Cleco 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 Cleco MACD line is above the signal line.
Cleco Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of CNL stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.