Manulife Financial Corp (MFC): Price Now Near $22.06; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for MFC

Currently, MFC (Get Ratings)’s price is down $-0.04 (-0.18%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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.

Out of Insurance stocks, MFC ranks 67th in regards to today’s price percentage change.

MFC’s Technical Outlook on the Daily Chart

At the moment, MFC’s price is up $0.19 (0.87%) from the day prior. MFC has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. 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. Manulife Financial Corp’s price action over the past 90 days can be seen via the chart below.

MFC

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