Meritor Inc (MTOR): Price Now Near $21.07; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for MTOR

At the moment, MTOR (Get Ratings)’s price is down $-0.35 (-1.64%) from the hour prior. This is the 2nd hour in a row MTOR has seen its price head down. 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 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.

MTOR ranks 55th in terms of today’s price percentage change out of Automobiles and Trucks stocks.

MTOR’s Technical Outlook on the Daily Chart

Currently, MTOR’s price is down $-1.29 (-5.78%) 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 20 day timeframe. Of note is that the 50 day changed directions on MTOR; it is now pointing down. 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. Meritor Inc’s price action over the past 90 days can be seen via the chart below.