Flowserve Corp (FLS): Price Now Near $40.07; Daily Chart Shows An Uptrend on 100 Day Basis

The Hourly View for FLS

At the moment, FLS (Get Ratings)’s price is up $0.1 (0.25%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as FLS has now gone down 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 50 hour timeframe. The moving averages on the hourly 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.

FLS’s Technical Outlook on the Daily Chart

At the time of this writing, FLS’s price is down $-0.07 (-0.17%) 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 20 day changed directions on FLS; it is now pointing up. 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 FLS’s price action over the past 90 days.


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