Edwards Lifesciences Corp (EW): Price Now Near $85.4; Daily Chart Shows Downtrend on 50 Day Basis

The Hourly View for EW

At the time of this writing, EW (Get Ratings)’s price is up $0.07 (0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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.

EW’s Technical Outlook on the Daily Chart

At the time of this writing, EW’s price is up $0.02 (0.02%) from the day prior. It’s been a feast for bulls operating on the daily timeframe, as EW has now gone up 12 of the past 14 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 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 EW’s price action over the past 90 days.

EW

For EW News Traders

News traders keeping an eye on EW may find value in this recent story:

Guidance Will Be Key When Edwards Lifesciences Reports Q1 Earnings

Medical device company Edwards Lifesciences (EW) is scheduled to report first quarter earnings results in two weeks and the current estimates show a slight decline is expected. The current consensus estimate is for EPS of $0.48 and that’s two cents below the $0.50 the company earned in the first quarter…

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