The Hourly View for SJR
At the time of this writing, SJR (Get Ratings)’s price is down $0 (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as SJR has now gone down 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 20 hour changed directions on SJR; 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.
SJR’s Technical Outlook on the Daily Chart
Currently, SJR’s price is down $-0.09 (-0.34%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 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. Shaw Communications Inc’s price action over the past 90 days can be seen via the chart below.
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The post Shaw Communications Inc (SJR): Price Now Near $26.5; Daily Chart Shows An Uptrend on 50 Day Basis appeared first on ETF Daily News.
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