Workhorse Group Technical Analysis (NASDAQ:WKHS)
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 Workhorse Group 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 WKHS stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Workhorse Group. Technical analysis uses an approach for Workhorse Group stock analysis that does not care for the fair value of a company but uses price and volume data only.
Workhorse Group Moving Average
Moving averages show the average price of WKHS stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. The longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for Workhorse Group are mostly signals of long term trends and will help long term traders.
Workhorse Group Bollinger Bands
Bollinger bands comprise of a center line usually WKHS SMA, and two WKHS 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. The stock price is trading between the average and the lower band in the context of Workhorse Group bollinger bands.
Workhorse Group 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 Workhorse Group MACD indicator can be used to identify bullish and bearish trends for the stock.
Workhorse Group 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 . If the RSI of WKHS stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.