The Hourly View for FTCH
At the moment, FTCH (Get Ratings)’s price is down $-1.35 (-2.54%) from the hour prior. FTCH has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being 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.
FTCH’s Technical Outlook on the Daily Chart
At the moment, FTCH’s price is down $-0.59 (-1.12%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. Regarding the trend, note that the strongest trend exists 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. Farfetch Ltd’s price action over the past 90 days can be seen via the chart below.
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The post Farfetch Ltd (FTCH): Price Now Near $51.79; Daily Chart Shows Downtrend on 20 Day Basis appeared first on ETF Daily News.
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