ChampionX Corp (CHX): Price Now Near $24.76; Daily Chart Shows Downtrend on 100 Day Basis

The Hourly View for CHX

At the time of this writing, CHX (Get Ratings)’s price is down $-0.05 (-0.2%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CHX has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on CHX; it is now pointing up. 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.

CHX ranks 65th in terms of today’s price percentage change out of Machinery stocks.

CHX’s Technical Outlook on the Daily Chart

At the moment, CHX’s price is down $-0.52 (-2.04%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. As for the trend on the daily timeframe, we see the clearest trend on the 20 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. ChampionX Corp’s price action over the past 90 days can be seen via the chart below.

CHX

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CHX: Daily RSI Analysis

  • For CHX, its RSI is now at 26.5896.
  • CHX and RSI may be exhibiting divergent trends. This may be something to monitor.

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