Eagle Bulk Shipping Technical Analysis (NASDAQ:EGLE)
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 Eagle Bulk Shipping stock price data and volume are plotted in EGLE stock charts and these trading charts form the basis of technical analysis.
See Eagle Bulk Shipping bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. The technical analysis form of Eagle Bulk Shipping stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Eagle Bulk Shipping Moving Average
Moving averages help predict the price direction of EGLE 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 $5.08 is below the last closing price of $5.48 and the 50 day moving average of $4.93 is below the last closing price of $5.48. The 10 and 20 day periods can predict short term moving average trends.
Eagle Bulk Shipping Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Eagle Bulk Shipping. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Currently the stock price of $5.48 is in the upper range of Eagle Bulk Shipping bollinger bands.
Eagle Bulk Shipping 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 Eagle Bulk Shipping MACD line is below the signal line.
Eagle Bulk Shipping Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of EGLE stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.