LyondellBasell Industries NV (LYB): Price Now Near $112.05; Daily Chart Shows An Uptrend on 100 Day Basis

The Hourly View for LYB

At the time of this writing, LYB (Get Ratings)’s price is down $-0.78 (-0.69%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as LYB has now gone down 8 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 100 and 200 hour changed directions on LYB; they are now pointing down. 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.

LYB ranks 30th in terms of today’s price percentage change out of Chemicals stocks.

LYB’s Technical Outlook on the Daily Chart

Currently, LYB’s price is down $0 (0%) from the day prior. LYB has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears. 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 20 day changed directions on LYB; 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 LYB’s price action over the past 90 days.

LYB

For LYB News Traders

News traders keeping an eye on LYB may find value in this recent story:

/C O R R E C T I O N — LyondellBasell Industries/

LyondellBasell (NYSE: LYB) today announced the successful startup of Ulsan PP Co., Ltd.’s 400 kiloton per annum (KTA) polypropylene production facility. The facility, located in the southeastern port city of Ulsan, South Korea, is one of the largest of its kind in Asia. Ulsan PP Co., Ltd., is a joint venture between PolyMirae Company Ltd., (a 50:50 partnership of LyondellBasell and DL Chemical) and SK Advanced.

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