Sky Solar Holdings Technical Analysis (NASDAQ:SKYS)
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 SKYS stock chart pattern can give those who understand technical analysis an indication of which way SKYS stock is headed, but cannot predict with 100% certainty as to what can happen to the Sky Solar Holdings stock price.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Sky Solar Holdings. Technical analysis uses an approach for Sky Solar Holdings stock analysis that does not care for the fair value of a company but uses price and volume data only.
Sky Solar Holdings Moving Average
Moving averages help predict the price direction of SKYS 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 $0.98 is above the price of $0.83.
Sky Solar Holdings Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Sky Solar Holdings. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Sky Solar Holdings bollinger bands show that the stock price is $0.83, upper band is 1.09, lower band is 0.87, and the average is 0.98.
Sky Solar Holdings 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 Sky Solar Holdings MACD indicator is above 0 indicating a bullish trend.
Sky Solar Holdings Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of SKYS stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.