The Hourly View for FTCH
At the moment, FTCH (Get Ratings)’s price is up $0.52 (1.02%) from the hour prior. FTCH has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Most noteworthy in the world of moving averages on the hourly chart is that the 100, 20 and 50 hour moving averages have been crossed, so that price is now turning above them. The moving averages on the hourly 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.
FTCH’s Technical Outlook on the Daily Chart
At the time of this writing, FTCH’s price is up $0.5 (0.98%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. 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 FTCH’s price action over the past 90 days.
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The post Farfetch Ltd (FTCH): Price Now Near $51.67; Daily Chart Shows Downtrend on 50 Day Basis appeared first on ETF Daily News.
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