ScanSource Technical Analysis (NASDAQ:SCSC)
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 ScanSource stock price data and volume are plotted in SCSC stock charts and these trading charts form the basis of technical analysis.
View technical indicators like moving averages (SMA and EMA), and bollinger bands for ScanSource. The technical analysis form of ScanSource stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
ScanSource Moving Average:
Moving averages help predict the price direction of SCSC 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 ScanSource are mostly signals of long term trends and will help long term traders.
ScanSource Bollinger Bands:
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the SCSC stock. ScanSource bollinger bands show that the stock price is $40.15, upper band is 34.23, lower band is 25.91, and the average is 30.07.
ScanSource 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 ScanSource MACD indicator is below 0 indicating a bearish trend.
ScanSource Relative Strength Index:
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. The relative strength index of SCSC stock is 55.49. .