Empresa Distribuidora Technical Analysis (NYSE:EDN)
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 Empresa Distribuidora 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 EDN 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 Empresa Distribuidora. Technical analysis uses an approach for Empresa Distribuidora stock analysis that does not care for the fair value of a company but uses price and volume data only.
Empresa Distribuidora Moving Average
Moving averages help predict the price direction of EDN stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $32.49 is above the price of $27.75.
Empresa Distribuidora Bollinger Bands
Bollinger bands comprise of a center line usually EDN SMA, and two EDN 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. Currently the stock price of $27.75 is in the lower range of Empresa Distribuidora bollinger bands.
Empresa Distribuidora 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 Empresa Distribuidora MACD line is above the signal line.
Empresa Distribuidora Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. 31.94 is the RSI value of EDN stock.