The Hourly View for MGRC
At the moment, MGRC (Get Ratings)’s price is down $-0.04 (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly 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.
Out of Business Services stocks, MGRC ranks 109th in regards to today’s price percentage change.
MGRC’s Technical Outlook on the Daily Chart
Currently, MGRC’s price is down $-0.04 (-0.05%) from the day prior. MGRC has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. Of note is that the 100 day changed directions on MGRC; it is now pointing up. 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. Mcgrath Rentcorp’s price action over the past 90 days can be seen via the chart below.
<MGRC's volume of shares traded is 2156; this is 96.29% lower than that of its 7 day average.
MGRC: Daily RSI Analysis
- MGRC’s RSI now stands at 87.0017.
- MGRC and RSI may be exhibiting divergent trends. This may be something to monitor.
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The post Mcgrath Rentcorp (MGRC): Price Now Near $80.3; Daily Chart Shows An Uptrend on 20 Day Basis appeared first on ETF Daily News.