Oak Valley Bancorp Technical Analysis (NASDAQ:OVLY)
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. The OVLY stock chart pattern can give those who understand technical analysis an indication of which way OVLY stock is headed, but cannot predict with 100% certainty as to what can happen to the Oak Valley Bancorp stock price.
See Oak Valley Bancorp bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. Technical analysis uses an approach for Oak Valley Bancorp stock analysis that does not care for the fair value of a company but uses price and volume data only.
Oak Valley Bancorp Moving Average
Moving averages show the OVLY 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. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $22.42 is below the price of $22.6.
Oak Valley Bancorp Bollinger Bands
Bollinger bands comprise of a center line usually OVLY SMA, and two OVLY 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. Currently the stock price of $22.6 is in the upper range of Oak Valley Bancorp bollinger bands.
Oak Valley Bancorp Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Oak Valley Bancorp MACD indicator can be used to identify bullish and bearish trends for the stock.
Oak Valley Bancorp 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 OVLY stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.