Western Refining Technical Analysis (NYSE:WNR)
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 Western Refining stock price data and volume are plotted in WNR stock charts and these trading charts form the basis of technical analysis.
See Western Refining bollinger bands, SMA (200 day moving average, 50 day moving average) and exponential moving averages. The technical analysis form of Western Refining stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Western Refining Moving Average:
Moving averages show the WNR stock price trend. The two most popular types of moving averages are the Simple Moving Average (SMA) and the Exponential Moving Average (EMA). A key factor that impacts moving averages is the lag factor. The 20 day moving average of $35.81 is below the price of $36.18.
Western Refining Bollinger Bands:
Bollinger bands comprise of a center line usually WNR SMA, and two WNR stock price bands above and below it. The stock is considered over brought 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 upper band in the context of Western Refining bollinger bands.
Western Refining 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 Western Refining MACD line is below the signal line.
Western Refining 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. If the RSI of WNR stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position. .