Forum Energy Technologies Inc (FET): Price Now Near $18.95; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for FET

At the time of this writing, FET (Get Ratings)’s price is up $0.02 (0.11%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

FET ranks 20th in terms of today’s price percentage change out of Machinery stocks.

FET’s Technical Outlook on the Daily Chart

Currently, FET’s price is down $0 (0%) from the day prior. FET has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend 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 FET’s price action over the past 90 days.

FET

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FET: Daily RSI Analysis

  • FET’s RSI now stands at 14.5455.
  • FET and RSI may be exhibiting divergent trends. This may be something to monitor.

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