IBERPAPEL - Daily - Technical analysis published on 10/20/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
39%
17%
44%
My opinion
Bullish above 16.00 EUR
My targets
16.65 EUR (+2.46%)
18.08 EUR (+11.28%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on IBERPAPEL as long as the price remains well above 16.00 EUR. The buyers' bullish objective is set at 16.65 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 18.08 EUR. If there is any crossing, the next objective would be the resistance located at 19.67 EUR. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
6.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The IBERPAPEL price is 16.25 EUR. The price registered a decrease of -1.22% on the session and was traded between 16.15 EUR and 16.45 EUR over the period. The price is currently at +0.62% from its lowest and -1.22% from its highest.16.15
16.45
16.25
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of IBERPAPEL indicates that the overall trend is strongly bullish. The signals given by moving averages are 85.71% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
In fact, only 7 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 15.35 | 15.79 | 16.00 | 16.25 | 16.41 | 16.65 | 19.67 |
| Change (%) | -5.54% | -2.83% | -1.54% | - | +0.98% | +2.46% | +21.05% |
| Change | -0.90 | -0.46 | -0.25 | - | +0.16 | +0.40 | +3.42 |
| Level | Intermediate | Major | Major | - | Minor | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.13 | 16.22 | 16.33 | 16.42 | 16.53 | 16.62 | 16.73 |
| Camarilla | 16.40 | 16.41 | 16.43 | 16.45 | 16.47 | 16.49 | 16.51 |
| Woodie | 16.15 | 16.23 | 16.35 | 16.43 | 16.55 | 16.63 | 16.75 |
| Fibonacci | 16.22 | 16.29 | 16.34 | 16.42 | 16.49 | 16.54 | 16.62 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.05 | 15.40 | 15.90 | 16.25 | 16.75 | 17.10 | 17.60 |
| Camarilla | 16.17 | 16.24 | 16.32 | 16.40 | 16.48 | 16.56 | 16.63 |
| Woodie | 15.13 | 15.44 | 15.98 | 16.29 | 16.83 | 17.14 | 17.68 |
| Fibonacci | 15.40 | 15.73 | 15.93 | 16.25 | 16.58 | 16.78 | 17.10 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 13.67 | 14.38 | 15.52 | 16.23 | 17.37 | 18.08 | 19.22 |
| Camarilla | 16.14 | 16.31 | 16.48 | 16.65 | 16.82 | 16.99 | 17.16 |
| Woodie | 13.88 | 14.49 | 15.73 | 16.34 | 17.58 | 18.19 | 19.43 |
| Fibonacci | 14.38 | 15.09 | 15.53 | 16.23 | 16.94 | 17.38 | 18.08 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 52.30 | |
| MACD (12,26,9): | 0.1600 | |
| Directional Movement: | 2.17 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 16.44 | |
| Parabolic SAR (0,02-0,02-0,2): | 16.77 | |
| Elder Ray (13): | -0.01 | |
| Super Trend (3,10): | 15.29 | |
| Zig ZAG (10): | 16.25 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 61.33 | |
| TEMA (21): | 16.50 | |
| Williams %R (14): | -52.38 | |
| Chande Momentum Oscillator (20): | 0.15 | |
| Repulse (5,40,3): | 2.1800 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1500 | |
| Courbe Coppock: | 3.46 |
| MA7: | 16.41 | |
| MA20: | 16.25 | |
| MA50: | 15.91 | |
| MA100: | 15.80 | |
| MAexp7: | 16.37 | |
| MAexp20: | 16.22 | |
| MAexp50: | 16.00 | |
| MAexp100: | 15.81 | |
| Price / MA7: | -0.98% | |
| Price / MA20: | -0% | |
| Price / MA50: | +2.14% | |
| Price / MA100: | +2.85% | |
| Price / MAexp7: | -0.73% | |
| Price / MAexp20: | +0.18% | |
| Price / MAexp50: | +1.56% | |
| Price / MAexp100: | +2.78% |
Quotes :
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15 min delayed data
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Spain Stocks
News
The latest news and videos published on IBERPAPEL at the time of the analysis were as follows:
Iberpapel GestionThis member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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