Range Resources Technical Analysis (NYSE:RRC)
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 RRC stock chart pattern can give those who understand technical analysis an indication of which way RRC stock is headed, but cannot predict with 100% certainty as to what can happen to the Range Resources stock price.
See Range Resources 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 Range Resources stock analysis.
Range Resources Moving Average
Moving averages show the average price of RRC stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. The longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for Range Resources are mostly signals of long term trends and will help long term traders.
Range Resources Bollinger Bands
Bollinger bands comprise of a center line usually RRC SMA, and two RRC 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. The stock price is trading between the average and the lower band in the context of Range Resources bollinger bands.
Range 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 Range Resources MACD indicator can be used to identify bullish and bearish trends for the stock.
Range Resources 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 RRC stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.