NOW Inc (DNOW): Price Now Near $7.1; Daily Chart Shows Downtrend on 100 Day Basis

The Hourly View for DNOW

500 – Internal server error It’s been a feast for bears operating on an hourly timeframe, as DNOW 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 50 hour timeframe. Of note is that the 20 hour changed directions on DNOW; it is 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.

DNOW ranks 43rd in terms of today’s price percentage change out of Machinery stocks.

DNOW’s Technical Outlook on the Daily Chart

At the moment, DNOW’s price is down $-0.25 (-3.4%) from the day prior. This move is a reversal from the day prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. 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. NOW Inc’s price action over the past 90 days can be seen via the chart below.

DNOW

<

DNOW: Daily RSI Analysis

  • For DNOW, its RSI is now at 34.2105.
  • DNOW and RSI both have consistent trends, as they are both heading down.

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