Progenics Pharma Technical Analysis (NASDAQ:PGNX)
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 Progenics Pharma 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 PGNX stock chart which creates a trading signal.
See Progenics Pharma bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. 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 Progenics Pharma stock analysis.
Progenics Pharma Moving Average
Moving averages show the PGNX 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 $8.41 is below the price of $8.49.
Progenics Pharma Bollinger Bands
Bollinger bands comprise of a center line usually PGNX SMA, and two PGNX 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 $8.49 is in the upper range of Progenics Pharma bollinger bands.
Progenics Pharma 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 Progenics Pharma MACD line is below the signal line.
Progenics Pharma Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of PGNX stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.