Acuity Brands Inc (AYI): Price Now Near $89.14; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for AYI

Currently, AYI’s price is down $-0.01 (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on AYI. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly 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.

AYI’s Technical Outlook on the Daily Chart

At the moment, AYI’s price is down $-0.55 (-0.46%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as AYI has now gone down 4 of the past 5 days. As for the trend on the daily timeframe, we see the clearest trend on the 50 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 AYI’s price action over the past 90 days.

AYI

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