Hennessy Advisors Technical Analysis (NASDAQ:HNNA)
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 Hennessy Advisors 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 HNNA stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Hennessy Advisors. The technical analysis form of Hennessy Advisors stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Hennessy Advisors Moving Average
Moving averages help predict the price direction of HNNA 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 $15.92 is above the price of $14.99.
Hennessy Advisors 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 HNNA stock. Currently the stock price of $14.99 is in the lower range of Hennessy Advisors bollinger bands.
Hennessy Advisors 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 Hennessy Advisors MACD indicator can be used to identify bullish and bearish trends for the stock.
Hennessy Advisors 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. The relative strength index of HNNA stock is 17.51.