Pnm Resources Inc (PNM): Price Now Near $49.71; Daily Chart Shows An Uptrend on 20 Day Basis

The Hourly View for PNM

At the moment, PNM (Get Ratings)’s price is up $0.05 (0.09%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as PNM 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. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them with price now being above them. 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.

Out of Utilities stocks, PNM ranks 40th in regards to today’s price percentage change.

PNM’s Technical Outlook on the Daily Chart

At the moment, PNM’s price is down $-0.05 (-0.11%) 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. 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. Pnm Resources Inc’s price action over the past 90 days can be seen via the chart below.