Evoke Pharma Technical Analysis (NASDAQ:EVOK)
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 Evoke Pharma 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 EVOK stock chart which creates a trading signal.
You can view Simple Moving Average - SMA 20 day, 50 day & 100 day, Exponential Moving Average - EMA 20 day, 50 day & 100 day charts, and Bollinger Bands for Evoke Pharma. The technical analysis form of Evoke Pharma stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Evoke Pharma Moving Average
Moving averages show the EVOK stock price trend. The two most popular types of moving averages are the Simple Moving Average or SMA and the Exponential Moving Average or EMA. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $2.04 is below the price of $2.06.
Evoke Pharma Bollinger Bands
Bollinger bands comprise of a center line usually EVOK SMA, and two EVOK 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 $2.06 is in the upper range of Evoke Pharma bollinger bands.
Evoke Pharma Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The Evoke Pharma MACD indicator is below 0 indicating a bearish trend.
Evoke Pharma Relative Strength Index
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . If the RSI of EVOK stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.