NGL Energy Partners Technical Analysis (NYSE:NGL)
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 NGL Energy Partners 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 NGL stock chart which creates a trading signal.
See NGL Energy Partners bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. Technical analysis uses an approach for NGL Energy Partners stock analysis that does not care for the fair value of a company but uses price and volume data only.
NGL Energy Partners Moving Average
Moving averages show the average price of NGL stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. The 20 day moving average of $11.7 is above the last closing price of $10.75 and the 50 day moving average of $11.43 is above the last closing price of $10.75. The 10 and 20 day periods can predict short term moving average trends.
NGL Energy Partners 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 NGL stock. Currently the stock price of $10.75 is in the lower range of NGL Energy Partners bollinger bands.
NGL Energy Partners 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 NGL Energy Partners MACD indicator is below 0 indicating a bearish trend.
NGL Energy Partners 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 NGL stock is 24.32.