Ocwen Financial Corp (OCN): Price Now Near $27.88; Daily Chart Shows An Uptrend on 20 Day Basis

The Hourly View for OCN

At the time of this writing, OCN (Get Ratings)’s price is down $-0.4 (-1.41%) from the hour prior. OCN has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Of note is that the 50 hour changed directions on OCN; it is now pointing down. 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.

OCN ranks 138th in terms of today’s price percentage change out of Banking stocks.

OCN’s Technical Outlook on the Daily Chart

At the time of this writing, OCN’s price is down $-0.45 (-1.59%) from the day prior. OCN has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. Regarding moving averages, it should first be noted that price has crossed the 200 day moving average, resulting in them so that price is now turning below it. 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 OCN’s price action over the past 90 days.

OCN

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OCN: Daily RSI Analysis

  • OCN’s RSI now stands at 0.
  • Note: OCN and RSI appear to be diverging in terms of their respective trends, with OCN rising at a faster rate than RSI.

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