MARTIFER - Daily - Technical analysis published on 01/02/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1.585 EUR
My targets
1.783 EUR (+10.08%)
2.017 EUR (+24.49%)
My analysis
The bullish trend is currently very strong on MARTIFER. As long as the price remains above the support at 1.585 EUR, you could try to benefit from the boom. The first bullish objective is located at 1.783 EUR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 2.017 EUR as an objective. Crossing it would then enable buyers to target 4.214 EUR. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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
8.4
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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 MARTIFER rating is 1.620 EUR. The price has increased by +5.88% since the last closing and was between 1.505 EUR and 1.620 EUR. This implies that the price is at +7.64% from its lowest and at 0% from its highest.1.505
1.620
1.620
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
Technical analysis of this Daily chart of MARTIFER indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
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 | 1.300 | 1.340 | 1.585 | 1.620 | 4.214 | 5.651 | 8.620 |
| Change (%) | -19.75% | -17.28% | -2.16% | - | +160.12% | +248.83% | +432.10% |
| Change | -0.320 | -0.280 | -0.035 | - | +2.594 | +4.031 | +7.000 |
| Level | Major | Minor | Intermediate | - | Intermediate | Minor | Intermediate |
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 | 1.337 | 1.383 | 1.457 | 1.503 | 1.577 | 1.623 | 1.697 |
| Camarilla | 1.497 | 1.508 | 1.519 | 1.530 | 1.541 | 1.552 | 1.563 |
| Woodie | 1.350 | 1.390 | 1.470 | 1.510 | 1.590 | 1.630 | 1.710 |
| Fibonacci | 1.383 | 1.429 | 1.458 | 1.503 | 1.549 | 1.578 | 1.623 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.070 | 1.170 | 1.350 | 1.450 | 1.630 | 1.730 | 1.910 |
| Camarilla | 1.453 | 1.479 | 1.504 | 1.530 | 1.556 | 1.581 | 1.607 |
| Woodie | 1.110 | 1.190 | 1.390 | 1.470 | 1.670 | 1.750 | 1.950 |
| Fibonacci | 1.170 | 1.277 | 1.343 | 1.450 | 1.557 | 1.623 | 1.730 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.937 | 1.063 | 1.297 | 1.423 | 1.657 | 1.783 | 2.017 |
| Camarilla | 1.431 | 1.464 | 1.497 | 1.530 | 1.563 | 1.596 | 1.629 |
| Woodie | 0.990 | 1.090 | 1.350 | 1.450 | 1.710 | 1.810 | 2.070 |
| Fibonacci | 1.063 | 1.201 | 1.286 | 1.423 | 1.561 | 1.646 | 1.783 |
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): | 85.70 | |
| MACD (12,26,9): | 0.0570 | |
| Directional Movement: | 29.433 | |
| AROON (14): | 35.714 | |
| DEMA (21): | 1.413 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.241 | |
| Elder Ray (13): | 0.174 | |
| Super Trend (3,10): | 1.348 | |
| Zig ZAG (10): | 1.620 | |
| VORTEX (21): | 1.1580 | |
| Stochastique (14,3,5): | 97.52 | |
| TEMA (21): | 1.466 | |
| Williams %R (14): | 0.00 | |
| Chande Momentum Oscillator (20): | 0.340 | |
| Repulse (5,40,3): | 20.7600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2110 | |
| Courbe Coppock: | 25.60 |
| MA7: | 1.411 | |
| MA20: | 1.319 | |
| MA50: | 1.299 | |
| MA100: | 1.302 | |
| MAexp7: | 1.451 | |
| MAexp20: | 1.355 | |
| MAexp50: | 1.313 | |
| MAexp100: | 1.293 | |
| Price / MA7: | +14.81% | |
| Price / MA20: | +22.82% | |
| Price / MA50: | +24.71% | |
| Price / MA100: | +24.42% | |
| Price / MAexp7: | +11.65% | |
| Price / MAexp20: | +19.56% | |
| Price / MAexp50: | +23.38% | |
| Price / MAexp100: | +25.29% |
Quotes :
-
15 min delayed data
-
Euronext Lisbonne
News
Don't forget to follow the news on MARTIFER. At the time of publication of this analysis, the latest news was as follows:
MartiferThis member declared not having a position on this financial instrument or a related financial instrument.
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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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