The Hourly View for TREX
At the moment, TREX (Get Ratings)’s price is up $0.17 (0.18%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as TREX has now gone up 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 100 hour timeframe. The moving averages on the hourly 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.
Out of Construction Materials stocks, TREX ranks 2nd in regards to today’s price percentage change.
TREX’s Technical Outlook on the Daily Chart
At the moment, TREX’s price is up $1.5 (1.58%) from the day prior. This is the 2nd day in a row TREX has seen its price head up. 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 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 TREX’s price action over the past 90 days.