Canadian Natural Resources Technical Analysis (NYSE:CNQ)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. The CNQ stock chart pattern can give those who understand technical analysis an indication of which way CNQ stock is headed, but cannot predict with 100% certainty as to what can happen to the Canadian Natural Resources stock price.
See Canadian Natural Resources bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. The technical analysis form of Canadian Natural Resources stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Canadian Natural Resources Moving Average
Moving averages show the CNQ stock price trend. The two most popular types of moving averages are the Simple Moving Average or SMA and the Exponential Moving Average or EMA. The 20 day moving average of $32.9 is above the last closing price of $31.24 and the 50 day moving average of $34.5 is above the last closing price of $31.24. The 10 and 20 day periods can predict short term moving average trends.
Canadian Natural Resources Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Canadian Natural Resources. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Canadian Natural Resources bollinger bands show that the stock price is $31.24, upper band is 37.34, lower band is 28.46, and the average is 32.9.
Canadian Natural Resources 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 Canadian Natural Resources MACD indicator is below 0 indicating a bearish trend.
Canadian Natural Resources Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. 31.24 is the RSI value of CNQ stock.