The Hourly View for CAJ
At the time of this writing, CAJ (Get Ratings)’s price is up $0.06 (0.24%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 CAJ; it is now pointing up. 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.
Out of Consumer Goods stocks, CAJ ranks 32nd in regards to today’s price percentage change.
CAJ’s Technical Outlook on the Daily Chart
Currently, CAJ’s price is down $-0.1 (-0.43%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as CAJ has now gone down 4 of the past 5 days. 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. The chart below shows CAJ’s price action over the past 90 days.
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The post Canon Inc (CAJ): Price Now Near $23.27; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News.
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