Hydrogenics Technical Analysis (NASDAQ:HYGS)
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 Hydrogenics 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 HYGS 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 Hydrogenics. The technical analysis form of Hydrogenics stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Hydrogenics Moving Average
Moving averages show the HYGS 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 $6.23 is above the last closing price of $6.05 and the 50 day moving average of $6.83 is above the last closing price of $6.05. The 10 and 20 day periods can predict short term moving average trends.
Hydrogenics Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Hydrogenics. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Hydrogenics bollinger bands show that the stock price is $6.05, upper band is 7.05, lower band is 5.41, and the average is 6.23.
Hydrogenics 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 Hydrogenics MACD indicator can be used to identify bullish and bearish trends for the stock.
Hydrogenics Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of HYGS stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.