Legacy Reserves Technical Analysis (NASDAQ:LGCY)
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. The LGCY stock chart pattern can give those who understand technical analysis an indication of which way LGCY stock is headed, but cannot predict with 100% certainty as to what can happen to the Legacy Reserves stock price.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Legacy Reserves. Technical analysis uses an approach for Legacy Reserves stock analysis that does not care for the fair value of a company but uses price and volume data only.
Legacy Reserves Moving Average
Moving averages show the LGCY 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 $4.85 is below the last closing price of $4.88 and the 50 day moving average of $5.74 is above the last closing price of $4.88. The 10 and 20 day periods can predict short term moving average trends.
Legacy Reserves Bollinger Bands
Bollinger bands comprise of a center line usually LGCY SMA, and two LGCY 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. The stock price is trading between the average and the upper band in the context of Legacy Reserves bollinger bands.
Legacy Reserves 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 Legacy Reserves MACD indicator can be used to identify bullish and bearish trends for the stock.
Legacy Reserves Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of LGCY stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.