Mcgrath Rentcorp (MGRC): Price Now Near $78.29; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for MGRC

At the moment, MGRC (Get Ratings)’s price is down $-0.55 (-0.7%) from the hour prior. The hourly chart shows that MGRC has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. 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.

MGRC ranks 256th in terms of today’s price percentage change out of Business Services stocks.

MGRC’s Technical Outlook on the Daily Chart

At the moment, MGRC’s price is down $-0.17 (-0.22%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. Of note is that the 100 day changed directions on MGRC; 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. Mcgrath Rentcorp’s price action over the past 90 days can be seen via the chart below.