Grifols SA (GRFS): Price Now Near $17.77; Daily Chart Shows An Uptrend on 20 Day Basis

The Hourly View for GRFS

Currently, GRFS (Get Ratings)’s price is down $-0.04 (-0.22%) from the hour prior. The hourly chart shows that GRFS has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below 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.

GRFS’s Technical Outlook on the Daily Chart

At the time of this writing, GRFS’s price is down $-0.26 (-1.44%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 100 and 200 day moving averages have been crossed, so that price is now turning below them. 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 GRFS’s price action over the past 90 days.

GRFS

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