Enerplus Technical Analysis (NYSE:ERF)
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. A ERF stock chart pattern can give those who understand technical analysis an indication of which way ERF stock is headed, but cannot predict with 100% certainty as to what can happen to the Enerplus stock price.
View technical indicators like moving averages (SMA and EMA), and bollinger bands for Enerplus. 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 Enerplus stock analysis.
Enerplus Moving Average:
ERF stock price movements can be forecasted by using triggers based on moving averages, which are also some of the simplest technical indicators. The way the averages are calculated in each of the 2 popular cases, that is SMA and EMA varies, however the interpretation of Enerplus chart patterns after the calculations remain the same. The 100 day moving average of 8.16 is below the last closing price of 8.64. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $8.87 is above the price of $8.64.
Enerplus Bollinger Bands:
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the ERF stock. Currently the stock price of $8.64 is in the upper range of Enerplus bollinger bands.
Enerplus 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 Enerplus MACD indicator is above 0 indicating a bullish trend.
Enerplus Relative Strength Index:
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. 44.4 is the RSI value of ERF stock. .