The Hourly View for OTIS
At the moment, OTIS’s price is down $-0.02 (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 200 and 50 hour changed directions on OTIS; they are now pointing down. 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.
OTIS’s Technical Outlook on the Daily Chart
At the time of this writing, OTIS’s price is up $0.48 (0.75%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as OTIS has now gone up 4 of the past 5 days. Regarding the trend, note that the strongest trend exists on the 20 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 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 OTIS’s price action over the past 90 days.
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The post Otis Worldwide Corp (OTIS): Price Up $0.48 (0.75)% Over Past Day, Down $-0.02 (-0.03)% Over Past Hour appeared first on ETF Daily News.
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