Nova Lifestyle Technical Analysis (NASDAQ:NVFY)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. Just by looking at the Nova Lifestyle 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 NVFY stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Nova Lifestyle. 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 Nova Lifestyle stock analysis.
Nova Lifestyle Moving Average
Moving averages show the average price of NVFY stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $1.8 is above the price of $1.69.
Nova Lifestyle Bollinger Bands
Bollinger bands comprise of a center line usually NVFY SMA, and two NVFY 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 lower band in the context of Nova Lifestyle bollinger bands.
Nova Lifestyle 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 Nova Lifestyle MACD line is above the signal line.
Nova Lifestyle 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 NVFY stock is 31.17.