The Hourly View for ABB
At the time of this writing, ABB (Get Ratings)’s price is up $0.08 (0.26%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. 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.
ABB’s Technical Outlook on the Daily Chart
At the moment, ABB’s price is up $0.11 (0.37%) from the day prior. ABB has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 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 ABB’s price action over the past 90 days.
For ABB News Traders
News traders keeping an eye on ABB may find value in this recent story:
ABB is poised to benefit from strength across its businesses, acquired assets and shareholder-friendly policies.
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