Cosan SA (CSAN): Price Now Near $17.5; Daily Chart Shows Downtrend on 50 Day Basis

The Hourly View for CSAN

Currently, CSAN (Get Ratings)’s price is down $-0.04 (-0.23%) from the hour prior. CSAN has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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.

CSAN ranks 99th in terms of today’s price percentage change out of Retail stocks.

CSAN’s Technical Outlook on the Daily Chart

At the time of this writing, CSAN’s price is down $-0.37 (-2.07%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows CSAN’s price action over the past 90 days.