The Hourly View for MFGP
At the time of this writing, MFGP (Get Ratings)’s price is down $-0.06 (-0.8%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 below them. 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.
MFGP’s Technical Outlook on the Daily Chart
At the time of this writing, MFGP’s price is down $-0.04 (-0.53%) 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 50 day timeframe. The moving averages on the daily 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. Micro Focus International Plc’s price action over the past 90 days can be seen via the chart below.
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