The Hourly View for SUM
At the moment, SUM (Get Ratings)’s price is up $1.29 (3.33%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 and 20 hour moving averages, resulting in them with price now being above 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.
SUM ranks 8th in terms of today’s price percentage change out of Non-Metallic and Industrial Metal Mining stocks.
SUM’s Technical Outlook on the Daily Chart
At the moment, SUM’s price is up $0.76 (1.94%) from the day prior. This move is a reversal from the day prior, which saw price move down. As for the trend on the daily timeframe, we see the clearest trend on the 50 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. Summit Materials Inc’s price action over the past 90 days can be seen via the chart below.
SUM: Daily RSI Analysis
- For SUM, its RSI is now at 35.514.
- SUM and RSI may be exhibiting divergent trends. This may be something to monitor.
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