ENERPLUS Corp (ERF): Price Now Near $9.71; Daily Chart Shows An Uptrend on 100 Day Basis

The Hourly View for ERF

ERF (Get Ratings)’s 9.71 ENERPLUS Corp in the hour prior was especially unusual given the typical amount recorded over the past 30 hour. ERF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, so that price is now turning below it. 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.

ERF ranks 71st in terms of today’s price percentage change out of Petroleum and Natural Gas stocks.

ERF’s Technical Outlook on the Daily Chart

Currently, ERF’s price is down $-0.42 (-4.11%) from the day prior. This is the 2nd day in a row ERF has seen its price head down. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, with price now being below it. 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. The chart below shows ERF’s price action over the past 90 days.