The Hourly View for UL
At the moment, UL (Get Ratings)’s price is up $0.08 (0.15%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them with price now being above them. 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.
UL’s Technical Outlook on the Daily Chart
Currently, UL’s price is up $0.24 (0.43%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as UL has now gone up 4 of the past 5 days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, so that price is now turning above it. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Unilever Plc’s price action over the past 90 days can be seen via the chart below.
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The post Unilever Plc (UL): Price Now Near $56.16; Daily Chart Shows Downtrend on 100 Day Basis appeared first on ETF Daily News.
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