The Hourly View for HYFM
At the time of this writing, HYFM (Get Ratings)’s price is up $1.58 (3.84%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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.
HYFM ranks 6th in terms of today’s price percentage change out of Wholesale stocks.
HYFM’s Technical Outlook on the Daily Chart
At the moment, HYFM’s price is up $1.12 (2.69%) from the day prior. This move is a reversal from the day prior, which saw price move 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 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows HYFM’s price action over the past 90 days.
HYFM: Daily RSI Analysis
HYFM: Daily RSI Analysis
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The post Hydrofarm Holdings Group Inc (HYFM): Price Now Near $42.7; Daily Chart Shows Downtrend on 50 Day Basis appeared first on ETF Daily News.
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