Hooker Furniture Technical Analysis (NASDAQ:HOFT)
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 Hooker Furniture 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 HOFT 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 Hooker Furniture. The technical analysis form of Hooker Furniture stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Hooker Furniture Moving Average
Moving averages show the HOFT 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. The 20 day moving average of $46.32 is below the last closing price of $46.95 and the 50 day moving average of $47.04 is above the last closing price of $46.95. The 10 and 20 day periods can predict short term moving average trends.
Hooker Furniture Bollinger Bands
Bollinger bands comprise of a center line usually HOFT SMA, and two HOFT 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 $46.95 is in the upper range of Hooker Furniture bollinger bands.
Hooker Furniture 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 Hooker Furniture MACD indicator can be used to identify bullish and bearish trends for the stock.
Hooker Furniture 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. If the RSI of HOFT stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.