Oconee Federal Financial Technical Analysis (NASDAQ:OFED)
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 Oconee Federal Financial 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 OFED stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Oconee Federal Financial. The technical analysis form of Oconee Federal Financial stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Oconee Federal Financial Moving Average
Moving averages help predict the price direction of OFED stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The 20 day moving average of $28.72 is above the last closing price of $28.31 and the 50 day moving average of $28.9 is above the last closing price of $28.31. The 10 and 20 day periods can predict short term moving average trends.
Oconee Federal Financial Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Oconee Federal Financial. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Currently the stock price of $28.31 is in the lower range of Oconee Federal Financial bollinger bands.
Oconee Federal Financial 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 Oconee Federal Financial MACD line is above the signal line.
Oconee Federal Financial 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. If the RSI of OFED stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.