SiteOne Landscape Supply Technical Analysis (NYSE:SITE)
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 SiteOne Landscape Supply stock price data and volume are plotted in SITE 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 SiteOne Landscape Supply. The technical analysis form of SiteOne Landscape Supply stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
SiteOne Landscape Supply Moving Average
Moving averages help predict the price direction of SITE 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 $81.06 is below the price of $90.52.
SiteOne Landscape Supply Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like SiteOne Landscape Supply. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. SiteOne Landscape Supply bollinger bands show that the stock price is $90.52, upper band is 92.07, lower band is 70.05, and the average is 81.06.
SiteOne Landscape Supply 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 SiteOne Landscape Supply MACD indicator is above 0 indicating a bullish trend.
SiteOne Landscape Supply Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of SITE stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.