RGC Resources Technical Analysis (NASDAQ:RGCO)
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 RGC Resources 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 RGCO stock chart which creates a trading signal.
You can view Simple Moving Average - SMA 20 day, 50 day & 100 day, Exponential Moving Average - EMA 20 day, 50 day & 100 day charts, and Bollinger Bands for RGC Resources. The technical analysis form of RGC Resources stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
RGC Resources Moving Average
Moving averages show the average price of RGCO 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 $24.09 is above the last closing price of $23.99 and the 50 day moving average of $25.83 is above the last closing price of $23.99. The 10 and 20 day periods can predict short term moving average trends.
RGC Resources Bollinger Bands
Bollinger bands comprise of a center line usually RGCO SMA, and two RGCO 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 $23.99 is in the lower range of RGC Resources bollinger bands.
RGC Resources 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 RGC Resources MACD indicator is below 0 indicating a bearish trend.
RGC Resources Relative Strength Index
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . If the RSI of RGCO stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.