Scorpio Bulkers Technical Analysis (NYSE:SALT)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. The SALT stock chart pattern can give those who understand technical analysis an indication of which way SALT stock is headed, but cannot predict with 100% certainty as to what can happen to the Scorpio Bulkers stock price.
See Scorpio Bulkers bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. Technical analysis uses an approach for Scorpio Bulkers stock analysis that does not care for the fair value of a company but uses price and volume data only.
Scorpio Bulkers Moving Average
Moving averages help predict the price direction of SALT stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $7.39 is above the price of $7.25.
Scorpio Bulkers Bollinger Bands
Bollinger bands comprise of a center line usually SALT SMA, and two SALT 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 Scorpio Bulkers bollinger bands.
Scorpio Bulkers 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 Scorpio Bulkers MACD line is above the signal line.
Scorpio Bulkers 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 SALT stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.