RENISHAW ORD 20P - Daily - Technical analysis published on 10/11/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
11%
50%
39%
My opinion
Bearish under 3,677 GBX
My targets
3,368 GBX (-3.88%)
2,648 GBX (-24.43%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on RENISHAW ORD 20P as long as the price remains well below 3,677 GBX. The sellers” bearish objective is set at 3,368 GBX. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 2,648 GBX. In case of crossing, the next objective would be the support located at 2,223 GBX. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
FORCE
0
10
7
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The RENISHAW ORD 20P rating is 3,504 GBX. On the day, this instrument gained +0.40% and was traded between 3,406 GBX and 3,518 GBX over the period. The price is currently at +2.88% from its lowest and -0.40% from its highest.3,406
3,518
3,504
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by RENISHAW ORD 20P:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of RENISHAW ORD 20P indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2,223 | 2,648 | 3,368 | 3,504 | 3,677 | 4,013 | 4,312 |
| Change (%) | -36.56% | -24.43% | -3.88% | - | +4.94% | +14.53% | +23.06% |
| Change | -1,281 | -856 | -136 | - | +173 | +509 | +808 |
| Level | Major | Major | Intermediate | - | Major | Minor | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,310 | 3,366 | 3,428 | 3,484 | 3,546 | 3,602 | 3,664 |
| Camarilla | 3,458 | 3,468 | 3,479 | 3,490 | 3,501 | 3,512 | 3,522 |
| Woodie | 3,313 | 3,368 | 3,431 | 3,486 | 3,549 | 3,604 | 3,667 |
| Fibonacci | 3,366 | 3,411 | 3,439 | 3,484 | 3,529 | 3,557 | 3,602 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,276 | 3,400 | 3,498 | 3,622 | 3,720 | 3,844 | 3,942 |
| Camarilla | 3,535 | 3,555 | 3,576 | 3,596 | 3,616 | 3,637 | 3,657 |
| Woodie | 3,263 | 3,394 | 3,485 | 3,616 | 3,707 | 3,838 | 3,929 |
| Fibonacci | 3,400 | 3,485 | 3,537 | 3,622 | 3,707 | 3,759 | 3,844 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,782 | 3,109 | 3,386 | 3,713 | 3,990 | 4,317 | 4,595 |
| Camarilla | 3,498 | 3,553 | 3,609 | 3,664 | 3,719 | 3,775 | 3,830 |
| Woodie | 2,758 | 3,097 | 3,362 | 3,701 | 3,966 | 4,305 | 4,570 |
| Fibonacci | 3,109 | 3,339 | 3,482 | 3,713 | 3,944 | 4,086 | 4,317 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 41.00 | |
| MACD (12,26,9): | -37.0000 | |
| Directional Movement: | -11 | |
| AROON (14): | -57 | |
| DEMA (21): | 3,566 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,654 | |
| Elder Ray (13): | -123 | |
| Super Trend (3,10): | 3,779 | |
| Zig ZAG (10): | 3,488 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 24.00 | |
| TEMA (21): | 3,535 | |
| Williams %R (14): | -75.00 | |
| Chande Momentum Oscillator (20): | -28 | |
| Repulse (5,40,3): | 0.0000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 9.00 |
| MA7: | 3,557 | |
| MA20: | 3,636 | |
| MA50: | 3,598 | |
| MA100: | 3,736 | |
| MAexp7: | 3,549 | |
| MAexp20: | 3,603 | |
| MAexp50: | 3,650 | |
| MAexp100: | 3,739 | |
| Price / MA7: | -1.49% | |
| Price / MA20: | -3.63% | |
| Price / MA50: | -2.61% | |
| Price / MA100: | -6.21% | |
| Price / MAexp7: | -1.27% | |
| Price / MAexp20: | -2.75% | |
| Price / MAexp50: | -4.00% | |
| Price / MAexp100: | -6.29% |
RenishawThis member declared not having a position on this financial instrument or a related financial instrument.
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