Romeo Power Inc (RMO): Price Now Near $4.35; Daily Chart Shows Downtrend on 100 Day Basis

The Hourly View for RMO

Currently, RMO (Get Ratings)’s price is up $0.07 (1.64%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 Electrical Equipment stocks, RMO ranks 43rd in regards to today’s price percentage change.

RMO’s Technical Outlook on the Daily Chart

Currently, RMO’s price is down $-0.25 (-5.4%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. The moving averages on the daily 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. Romeo Power Inc’s price action over the past 90 days can be seen via the chart below.



RMO: Daily RSI Analysis

  • RMO’s RSI now stands at 6.5746.
  • RMO and RSI may be exhibiting divergent trends. This may be something to monitor.

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