Encore Wire Corp (WIRE): Price Now Near $146.56; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for WIRE

At the moment, WIRE (Get Ratings)’s price is up $1.86 (1.29%) from the hour prior. This is the 2nd hour in a row WIRE has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. 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.

WIRE ranks 2nd in terms of today’s price percentage change out of Steel Works Etc stocks.

WIRE’s Technical Outlook on the Daily Chart

At the time of this writing, WIRE’s price is up $1.86 (1.29%) from the day prior. WIRE has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend 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. Encore Wire Corp’s price action over the past 90 days can be seen via the chart below.

WIRE

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WIRE: Daily RSI Analysis

  • For WIRE, its RSI is now at 49.3913.
  • WIRE and RSI may be exhibiting divergent trends. This may be something to monitor.

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