The Hourly View for BLUE
Currently, BLUE (Get Ratings)’s price is down $-0.04 (-0.13%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Of note is that the 200 hour changed directions on BLUE; it is now pointing down. 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.
BLUE’s Technical Outlook on the Daily Chart
At the time of this writing, BLUE’s price is up $0.31 (1.05%) from the day prior. BLUE has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 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. The chart below shows BLUE’s price action over the past 90 days.
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The post bluebird bio Inc (BLUE): Price Now Near $29.84; Daily Chart Shows Downtrend on 100 Day Basis appeared first on ETF Daily News.
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