Rennova Technical Analysis (OTCMKTS:RNVA)
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 Rennova stock price data and volume are plotted in RNVA stock charts and these trading charts form the basis of technical analysis.
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 Rennova. 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 Rennova stock analysis.
Rennova Moving Average
Moving averages help predict the price direction of RNVA stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for Rennova are mostly signals of long term trends and will help long term traders.
Rennova Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Rennova. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Rennova bollinger bands show that the stock price is $0.01, upper band is 2.63, lower band is -0.49, and the average is 1.07.
Rennova 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 Rennova MACD indicator is above 0 indicating a bullish trend.
Rennova 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 RNVA stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.