The Hourly View for PSTG
Currently, PSTG (Get Ratings)’s price is up $0.11 (0.54%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning above 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.
PSTG ranks 29th in terms of today’s price percentage change out of Computers stocks.
PSTG’s Technical Outlook on the Daily Chart
At the time of this writing, PSTG’s price is up $0.28 (1.46%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as PSTG has now gone down 4 of the past 5 days. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. 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. Pure Storage Inc’s price action over the past 90 days can be seen via the chart below.
PSTG: Daily RSI Analysis
- For PSTG, its RSI is now at 66.6667.
- PSTG and RSI both have consistent trends, as they are both heading down.
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