Looking at shares from a technical standpoint, Riverview Bancorp, Inc. (RVSB) presently has a 14-day Commodity Channel Index (CCI) of 69.89. Typically, the CCI oscillates above and below a zero line. Normal oscillations tend to stay in the range of -100 to +100. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory. Although the CCI indicator was developed for commodities, it has become a popular tool for equity evaluation as well.
Riverview Bancorp, Inc. (RVSB) is gaining investor interest as the Trendspotter Opinion rating has reached “Sell” with first resistance at 8.78 and second resistance at 8.84. On the other end, investors are watching the first support level of 8.66, and the second support level of 8.6. The trendspotter strength signal is currently Average. This signal is compared to the historical performance where maximum would be considered the strongest, and minimum would be touted as the weakest. In terms of direction, the trendspotter signal is currently Weakening. This signal may indicate if the Buy or Sell is weakening or gaining strength, or if the Hold is leaning towards a Buy or Sell.
Going further, we’ll look at what some of the near-term technical indicators are reading for Riverview Bancorp, Inc. (RVSB) shares. The signal from the 20-day moving average is revealing a “Buy”. The 20-50 day MACD Oscillator, which can be used to identify bullish or bearish directional movement is currently showing a “Sell” signal.
Next we will look at the Bollinger Band signal, specifically the 20 day reading. This indicator can be used to identify short-term overbought and oversold zones, to confirm divergences between prices and indicators and to predict future price targets. The 20-Day Bollinger Band currently is signaling a “Hold” for Riverview Bancorp, Inc. (RVSB).
We can also do some further technical analysis on the stock. At the time of writing, the 14-day ADX for Riverview Bancorp, Inc. (RVSB) is 20.25. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.
Interested investors may be watching the Williams Percent Range or Williams %R. Williams %R is a popular technical indicator created by Larry Williams to help identify overbought and oversold situations. Investors will commonly use Williams %R in conjunction with other trend indicators to help spot possible stock turning points. Riverview Bancorp, Inc. (RVSB)’s Williams Percent Range or 14 day Williams %R currently sits at -32.2. In general, if the indicator goes above -20, the stock may be considered overbought. Alternately, if the indicator goes below -80, this may point to the stock being oversold.
Tracking other technical indicators, the 14-day RSI is presently standing at 46.57, the 7-day sits at 51.66, and the 3-day is resting at 51.96 for Riverview Bancorp, Inc. (RVSB). The Relative Strength Index (RSI) is an often employed momentum oscillator that is used to measure the speed and change of stock price movements. When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market. This measurement is based on closing prices over a specific period of time. As a momentum oscillator, the RSI operates in a set range. This range falls on a scale between 0 and 100. If the RSI is closer to 100, this may indicate a period of stronger momentum. On the flip side, an RSI near 0 may signal weaker momentum. The RSI was originally created by J. Welles Wilder which was introduced in his 1978 book “New Concepts in Technical Trading Systems”.
For further review, we can take a look at another popular technical indicator. In terms of moving averages, the 200-day is currently at 8.83, the 50-day is 9.04, and the 7-day is resting at 8.71. Moving averages are a popular trading tool among investors. Moving averages can be used to help filter out the day to day noise created by other factors. MA’s may be used to identify uptrends or downtrends, and they can be a prominent indicator for detecting a shift in momentum for a particular stock. Many traders will use moving averages for different periods of time in conjunction with other indicators to help gauge future stock price action.