The Hourly View for ABEV
Currently, ABEV (Get Ratings)’s price is down $0 (-0.18%) 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 20 hour timeframe. 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.
ABEV’s Technical Outlook on the Daily Chart
At the time of this writing, ABEV’s price is up $0.07 (2.57%) from the day prior. The daily chart shows that ABEV has seen 2 straight up days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 day moving averages, resulting in them so that price is now turning above them. 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. Ambev Sa’s price action over the past 90 days can be seen via the chart below.
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The post Ambev Sa (ABEV): Price Now Near $2.79; Daily Chart Shows Downtrend on 50 Day Basis appeared first on ETF Daily News.
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