Mitek Technical Analysis (NASDAQ:MITK)
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 Mitek stock price data and volume are plotted in MITK stock charts and these trading charts form the basis of technical analysis.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Mitek. 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 Mitek stock analysis.
Mitek Moving Average
Moving averages help predict the price direction of MITK stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $8.9 is below the price of $9.35.
Mitek Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Mitek. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Currently the stock price of $9.35 is in the upper range of Mitek bollinger bands.
Mitek 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 Mitek MACD indicator can be used to identify bullish and bearish trends for the stock.
Mitek Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of MITK stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.