M/I Homes Technical Analysis (NYSE:MHO)
Technical chart patterns are studied in depth by people who strongly believe in technical analysis. These type of investors who look at trading charts or technical stock charts are usually traders rather than value investors. Just by looking at the M/I Homes 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 MHO stock chart which creates a trading signal.
See M/I Homes bollinger bands, SMA (200 day moving average, 50 day moving average) and exponential moving averages. The technical analysis form of M/I Homes stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
M/I Homes Moving Average:
Moving averages help predict the price direction of MHO stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. One needs to choose the duration of a moving average depending on the investment objective and investment horizon. For periods greater than 100, it takes a larger and longer MHO stock price movement for the moving average to change course.
M/I Homes 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 MHO stock. Currently the stock price of $25.36 is in the upper range of M/I Homes bollinger bands.
M/I Homes 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 M/I Homes MACD line is above the signal line.
M/I Homes Relative Strength Index:
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . The relative strength index of MHO stock is 63.38. .