Hope Bancorp Inc (HOPE): Price Now Near $13.6; Daily Chart Shows Downtrend on 100 Day Basis

The Hourly View for HOPE

Currently, HOPE (Get Ratings)’s price is up $0.1 (0.74%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved 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.

HOPE ranks 105th in terms of today’s price percentage change out of Banking stocks.

HOPE’s Technical Outlook on the Daily Chart

At the moment, HOPE’s price is down $-0.18 (-1.31%) 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 50 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, 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 HOPE’s price action over the past 90 days.