The Hourly View for MRTX
At the moment, MRTX (Get Ratings)’s price is down $-1.06 (-0.6%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as MRTX has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning 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.
MRTX’s Technical Outlook on the Daily Chart
At the time of this writing, MRTX’s price is down $-0.66 (-0.37%) from the day prior. This is the 2nd day in a row MRTX has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 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 MRTX’s price action over the past 90 days.
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The post Mirati Therapeutics Inc (MRTX): Price Now Near $176.32; Daily Chart Shows Downtrend on 20 Day Basis appeared first on ETF Daily News.
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