Workhorse Group Technical Analysis (NASDAQ:WKHS)
Technical analysis is the study of technical chart patterns and does not rely on the financials of a company. The Workhorse Group stock price data and volume are plotted in WKHS stock charts and these trading charts form the basis of technical analysis.
See Workhorse Group bollinger bands, SMA (200 day moving average, 50 day moving average) and exponential moving averages. 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 Workhorse Group stock analysis.
Workhorse Group Moving Average:
WKHS stock price movements can be forecasted by using triggers based on moving averages, which are also some of the simplest technical indicators. The way the averages are calculated in each of the 2 popular cases, that is SMA and EMA varies, however the interpretation of Workhorse Group chart patterns after the calculations remain the same. The 100 day moving average of 4.04 is above the last closing price of 2.18. Moving averages can be used for WKHS trend identification. A rising moving average shows that stock prices are generally increasing.
Workhorse Group Bollinger Bands:
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the WKHS stock. Currently the stock price of $2.18 is in the lower range of Workhorse Group bollinger bands.
Workhorse Group 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 Workhorse Group MACD line is below the signal line.
Workhorse Group Relative Strength Index:
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. 45.69 is the RSI value of WKHS stock. .