The Hourly View for MFC
At the moment, MFC (Get Ratings)’s price is up $0.11 (0.52%) from the hour prior. This is the 3rd hour in a row MFC has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them 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.
MFC’s Technical Outlook on the Daily Chart
At the moment, MFC’s price is up $0.3 (1.42%) from the day prior. This move is a reversal from the day prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, so that price is now turning above it. The moving averages on the daily 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. The chart below shows MFC’s price action over the past 90 days.
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The post Manulife Financial Corp (MFC): Price Now Near $21.41; Daily Chart Shows An Uptrend on 20 Day Basis appeared first on ETF Daily News.
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