Braskem Sa (BAK): Price Now Near $19.89; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for BAK

Currently, BAK (Get Ratings)’s price is down $-0.06 (-0.3%) from the hour prior. BAK has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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.

BAK ranks 44th in terms of today’s price percentage change out of Chemicals stocks.

BAK’s Technical Outlook on the Daily Chart

At the time of this writing, BAK’s price is up $0.62 (3.22%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, so that price is now turning above it. 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. Braskem Sa’s price action over the past 90 days can be seen via the chart below.

BAK

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