Enova Technical Analysis (NYSE:ENVA)
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. Just by looking at the Enova 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 ENVA stock chart which creates a trading signal.
See Enova bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Enova stock analysis.
Enova Moving Average
Moving averages help predict the price direction of ENVA 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 $34.6 is above the last closing price of $33.75 and the 50 day moving average of $35.57 is above the last closing price of $33.75. The 10 and 20 day periods can predict short term moving average trends.
Enova Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Enova. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. The stock price is trading between the average and the lower band in the context of Enova bollinger bands.
Enova 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 Enova MACD indicator can be used to identify bullish and bearish trends for the stock.
Enova 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. 31.67 is the RSI value of ENVA stock.