Evolent Health Technical Analysis (NYSE:EVH)
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 Evolent Health 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 EVH stock chart which creates a trading signal.
See Evolent Health bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. The technical analysis form of Evolent Health stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Evolent Health Moving Average
Moving averages help predict the price direction of EVH 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 $21.6 is below the price of $23.35.
Evolent Health Bollinger Bands
Bollinger bands comprise of a center line usually EVH SMA, and two EVH 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 $23.35 is in the upper range of Evolent Health bollinger bands.
Evolent Health 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 Evolent Health MACD indicator can be used to identify bullish and bearish trends for the stock.
Evolent Health Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. 63.8 is the RSI value of EVH stock.