The Hourly View for SANM
At the time of this writing, SANM (Get Ratings)’s price is down $-0.32 (-0.77%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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, so that price is now turning below 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.
SANM’s Technical Outlook on the Daily Chart
At the time of this writing, SANM’s price is down $-0.11 (-0.27%) from the day prior. This move is a reversal from the day prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe. 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 SANM’s price action over the past 90 days.
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The post Sanmina Corp (SANM): Price Now Near $41.14; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News.
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