Woori Bank Technical Analysis (NYSE:WF)
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 WF stock chart pattern can give those who understand technical analysis an indication of which way WF stock is headed, but cannot predict with 100% certainty as to what can happen to the Woori Bank stock price.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Woori Bank. The technical analysis form of Woori Bank stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Woori Bank Moving Average
Moving averages show the WF stock price trend. The two most popular types of moving averages are the Simple Moving Average or SMA and the Exponential Moving Average or EMA. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $44.55 is above the price of $43.49.
Woori Bank Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Woori Bank. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. The stock price is trading between the average and the lower band in the context of Woori Bank bollinger bands.
Woori Bank 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 Woori Bank MACD line is below the signal line.
Woori Bank Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of WF stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.