Silvergate Capital Corp (SI): Price Now Near $101.9; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for SI

Currently, SI (Get Ratings)’s price is down $-0.85 (-0.83%) from the hour prior. SI has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 hour moving average, resulting in them so that price is now turning below it. 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.

SI ranks 208th in terms of today’s price percentage change out of Banking stocks.

SI’s Technical Outlook on the Daily Chart

Currently, SI’s price is down $-3.32 (-3.16%) 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 20 day timeframe. Of note is that the 100 day changed directions on SI; it is now pointing down. 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 SI’s price action over the past 90 days.