Ally Financial Inc (ALLY): Price Now Near $42.95; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for ALLY

At the time of this writing, ALLY’s price is up $0.47 (1.09%) 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. Regarding moving averages, it should first be noted that price has crossed the 100 and 50 hour moving averages, resulting in them so that price is now turning above them. 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.

ALLY’s Technical Outlook on the Daily Chart

At the moment, ALLY’s price is down $-0.24 (-0.57%) from the day prior. The daily chart shows that ALLY has seen 2 straight down days. 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. The chart below shows ALLY’s price action over the past 90 days.

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The post Ally Financial Inc (ALLY): Price Now Near $42.95; Daily Chart Shows An Uptrend on 50 Day Basis appeared first on ETF Daily News.