The Hourly View for RACE
Currently, RACE (Get Ratings)’s price is up $0.33 (0.17%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as RACE has now gone up 4 of the past 5 hours. 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 50 hour moving average has been crossed, so that price is now turning above it. 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.
RACE ranks 14th in terms of today’s price percentage change out of Automobiles and Trucks stocks.
RACE’s Technical Outlook on the Daily Chart
At the time of this writing, RACE’s price is up $1.38 (0.7%) from the day prior. The daily chart shows that RACE has seen 2 straight up days. 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. The chart below shows RACE’s price action over the past 90 days.
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The post Ferrari NV (RACE): Price Now Near $198.64; Daily Chart Shows Downtrend on 20 Day Basis appeared first on ETF Daily News.
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