OFG Bancorp Technical Analysis (NYSE:OFG)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. Just by looking at the OFG Bancorp 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 OFG stock chart which creates a trading signal.
See OFG Bancorp bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. The technical analysis form of OFG Bancorp stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
OFG Bancorp Moving Average
Moving averages show the average price of OFG 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 $10.82 is below the last closing price of $11.05 and the 50 day moving average of $9.88 is below the last closing price of $11.05. The 10 and 20 day periods can predict short term moving average trends.
OFG Bancorp Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like OFG Bancorp. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Currently the stock price of $11.05 is in the upper range of OFG Bancorp bollinger bands.
OFG Bancorp 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 OFG Bancorp MACD indicator can be used to identify bullish and bearish trends for the stock.
OFG Bancorp Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. 45 is the RSI value of OFG stock.