Braskem Sa (BAK): Price Now Near $23.74; Daily Chart Shows An Uptrend on 100 Day Basis

The Hourly View for BAK

Currently, BAK (Get Ratings)’s price is up $0.14 (0.59%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as BAK has now gone up 4 of the past 5 hours. 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 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.

BAK ranks 2nd 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 $1.14 (5.04%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as BAK has now gone up 4 of the past 5 days. 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 BAK’s price action over the past 90 days.

BAK

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