Methanex Corp (MEOH): Price Now Near $45.26; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for MEOH

Currently, MEOH (Get Ratings)’s price is down $-0.38 (-0.83%) from the hour prior. MEOH 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 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, with price now being below them. 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.

MEOH ranks 73rd in terms of today’s price percentage change out of Chemicals stocks.

MEOH’s Technical Outlook on the Daily Chart

At the moment, MEOH’s price is down $-1.19 (-2.56%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as MEOH has now gone down 8 of the past 10 days. As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe. The moving averages on the daily 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. Methanex Corp’s price action over the past 90 days can be seen via the chart below.