ESSA Bancorp Technical Analysis (NASDAQ:ESSA)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. Just by looking at the ESSA Bancorp 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 ESSA stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for ESSA Bancorp. 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 ESSA Bancorp stock analysis.
ESSA Bancorp Moving Average
Moving averages show the average price of ESSA stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. The longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for ESSA Bancorp are mostly signals of long term trends and will help long term traders.
ESSA Bancorp Bollinger Bands
Bollinger bands comprise of a center line usually ESSA SMA, and two ESSA 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 $16.01 is in the upper range of ESSA Bancorp bollinger bands.
ESSA Bancorp Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps gauge the stock price trend, as the indicator is useful in understanding the strength, direction and momentum of the stock price. The ESSA Bancorp MACD line is above the signal line.
ESSA Bancorp Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. The relative strength index of ESSA stock is 36.11.