The Hourly View for ABEV
At the time of this writing, ABEV (Get Ratings)’s price is up $0.03 (1.06%) from the hour prior. This is the 2nd hour in a row ABEV has seen its price head up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
ABEV’s Technical Outlook on the Daily Chart
Currently, ABEV’s price is down $-0.01 (-0.35%) from the day prior. This move is a reversal from the day prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows ABEV’s price action over the past 90 days.
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The post Ambev Sa (ABEV): Price Now Near $2.87; Daily Chart Shows An Uptrend on 20 Day Basis appeared first on ETF Daily News.
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