Herman Miller Inc (MLHR): Price Now Near $41.37; Daily Chart Shows Downtrend on 50 Day Basis

The Hourly View for MLHR

At the moment, MLHR (Get Ratings)’s price is down $-0.39 (-0.93%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them with price now being below it. 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.

Out of Business Supplies stocks, MLHR ranks 2nd in regards to today’s price percentage change.

MLHR’s Technical Outlook on the Daily Chart

At the moment, MLHR’s price is up $0.75 (1.85%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. Of note is that the 100 day changed directions on MLHR; 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. Herman Miller Inc’s price action over the past 90 days can be seen via the chart below.

MLHR

<

MLHR: Daily RSI Analysis

  • MLHR’s RSI now stands at 85.8824.
  • MLHR and RSI may be exhibiting divergent trends. This may be something to monitor.

Want More Great Investing Ideas?

9 “MUST OWN” Growth Stocks for 2021

5 WINNING Stock Chart Patterns

7 Best ETFs for the NEXT Bull Market