Ocean Power Technical Analysis (NASDAQ:OPTT)
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 Ocean Power 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 OPTT stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Ocean Power. The technical analysis form of Ocean Power stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Ocean Power Moving Average
Moving averages show the OPTT stock price trend. The two most popular types of moving averages are the Simple Moving Average or SMA and the Exponential Moving Average or EMA. The longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for Ocean Power are mostly signals of long term trends and will help long term traders.
Ocean Power Bollinger Bands
Bollinger bands comprise of a center line usually OPTT SMA, and two OPTT 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. Ocean Power bollinger bands show that the stock price is $1.09, upper band is 1.16, lower band is 1.08, and the average is 1.12.
Ocean Power 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 Ocean Power MACD indicator can be used to identify bullish and bearish trends for the stock.
Ocean Power 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 OPTT stock is 42.86.