Grifols SA (GRFS): Price Now Near $18.24; Daily Chart Shows An Uptrend on 20 Day Basis

The Hourly View for GRFS

At the time of this writing, GRFS (Get Ratings)’s price is down $-0.05 (-0.27%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GRFS 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 100 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.

GRFS’s Technical Outlook on the Daily Chart

At the moment, GRFS’s price is down $-0.36 (-1.94%) 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 50 day timeframe. Of note is that the 100 day changed directions on GRFS; it is now pointing down. 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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