Magyar Bancorp Technical Analysis (NASDAQ:MGYR)
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 Magyar Bancorp 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 MGYR 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 Magyar Bancorp. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Magyar Bancorp stock analysis.
Magyar Bancorp Moving Average
Moving averages help predict the price direction of MGYR stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for Magyar Bancorp are mostly signals of long term trends and will help long term traders.
Magyar Bancorp 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 MGYR stock. Currently the stock price of $12.78 is in the upper range of Magyar Bancorp bollinger bands.
Magyar Bancorp 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 Magyar Bancorp MACD line is below the signal line.
Magyar Bancorp 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 MGYR stock is 49.69.