SolarCity Technical Analysis (NASDAQ:SCTY)
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. Just by looking at the SolarCity 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 SCTY 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 SolarCity. 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 SolarCity stock analysis.
SolarCity Moving Average
Moving averages help predict the price direction of SCTY stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The 20 day moving average of $19.93 is below the last closing price of $20.34 and the 50 day moving average of $19.54 is below the last closing price of $20.34. The 10 and 20 day periods can predict short term moving average trends.
SolarCity Bollinger Bands
Bollinger bands comprise of a center line usually SCTY SMA, and two SCTY 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 $20.34 is in the upper range of SolarCity bollinger bands.
SolarCity 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 SolarCity MACD line is above the signal line.
SolarCity 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 . The relative strength index of SCTY stock is 61.12.