The Hourly View for GDS
Currently, GDS (Get Ratings)’s price is up $1.15 (1.27%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being above it. The moving averages on the hourly 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.
GDS’s Technical Outlook on the Daily Chart
At the moment, GDS’s price is down $-0.85 (-0.93%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as GDS has now gone down 8 of the past 10 days. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. Of note is that the 50 day changed directions on GDS; it is now pointing down. 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 GDS’s price action over the past 90 days.
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The post GDS Holdings Ltd (GDS): Price Now Near $91.4; Daily Chart Shows Downtrend on 20 Day Basis appeared first on ETF Daily News.
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