Cathay General Bancorp (CATY): Price Now Near $42.38; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for CATY

At the time of this writing, CATY (Get Ratings)’s price is down $-0.26 (-0.61%) from the hour prior. The hourly chart shows that CATY has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 100 hour changed directions on CATY; it is now pointing down. 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 Banking stocks, CATY ranks 182nd in regards to today’s price percentage change.

CATY’s Technical Outlook on the Daily Chart

At the moment, CATY’s price is down $-1.61 (-3.65%) from the day prior. This move is a reversal from the day prior, which saw price move up. 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 CATY; it is now pointing down. 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. Cathay General Bancorp’s price action over the past 90 days can be seen via the chart below.

CATY

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CATY: Daily RSI Analysis

  • CATY’s RSI now stands at 45.3152.
  • CATY and RSI both have consistent trends, as they are both heading up.

For CATY News Traders

Investors and traders in CATY may be particularly interested in the following story that came out in the past day:

Cathay General (CATY) Q3 Earnings and Revenues Beat Estimates

Cathay (CATY) delivered earnings and revenue surprises of 2.20% and 0.61%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

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