METHANEX CORP. - Daily - Technical analysis published on 09/30/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Bearish
Technical indicators
33%
22%
44%
My opinion
Bearish under 41.47 USD
My targets
31.94 USD (-10.05%)
27.01 USD (-23.94%)
My analysis
In a bearish trend, the price of METHANEX CORP. tries to inflate a little with a slight short-term rebound. At this stage, no trend reversal is in sight. Globally, sellers have the upper hand. Traders may allow themselves to trade short positions (for sale) as long as the price remains below the resistance located at 41.47 USD. A bearish break in the support located at 31.94 USD would revive the bearish momentum and fuel the basic trend. Then the price could move towards 27.01 USD. Then 20.19 USD by extension. It would be safer to wait for a bearish break in the support located at 31.94 USD before allowing yourself to re trade short positions (for sale) on METHANEX CORP.. PS: if there is a bullish break in the resistance located at 41.47 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
FORCE
0
10
0.7
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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 METHANEX CORP. price is 35.51 USD. The price registered an increase of +0.82% on the session with the lowest point at 35.18 USD and the highest point at 35.99 USD. The deviation from the price is +0.94% for the low point and -1.33% for the high point.35.18
35.99
35.51
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 METHANEX CORP.:
Technical
A technical analysis in Daily of this METHANEX CORP. chart shows a bearish trend. The signals given by moving averages are at 64.29% bearish. This bearish trend could slow down given the slightly bullish signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
On the 18 technical indicators analysed, 6 are bullish, 8 are neutral and 4 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 20.19 | 27.01 | 31.94 | 35.51 | 41.47 | 46.38 | 52.62 |
| Change (%) | -43.14% | -23.94% | -10.05% | - | +16.78% | +30.61% | +48.18% |
| Change | -15.32 | -8.50 | -3.57 | - | +5.96 | +10.87 | +17.11 |
| Level | Major | Major | Major | - | Intermediate | Intermediate | Major |
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 | 34.01 | 34.39 | 34.80 | 35.18 | 35.60 | 35.98 | 36.39 |
| Camarilla | 35.00 | 35.07 | 35.15 | 35.22 | 35.29 | 35.37 | 35.44 |
| Woodie | 34.03 | 34.40 | 34.82 | 35.19 | 35.62 | 35.99 | 36.41 |
| Fibonacci | 34.39 | 34.69 | 34.88 | 35.18 | 35.49 | 35.67 | 35.98 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 30.83 | 33.27 | 34.76 | 37.20 | 38.69 | 41.13 | 42.62 |
| Camarilla | 35.17 | 35.53 | 35.89 | 36.25 | 36.61 | 36.97 | 37.33 |
| Woodie | 30.36 | 33.03 | 34.29 | 36.96 | 38.22 | 40.89 | 42.15 |
| Fibonacci | 33.27 | 34.77 | 35.70 | 37.20 | 38.70 | 39.63 | 41.13 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.47 | 24.71 | 28.42 | 33.66 | 37.37 | 42.61 | 46.32 |
| Camarilla | 29.67 | 30.49 | 31.31 | 32.13 | 32.95 | 33.77 | 34.59 |
| Woodie | 18.71 | 24.33 | 27.66 | 33.28 | 36.61 | 42.23 | 45.56 |
| Fibonacci | 24.71 | 28.13 | 30.24 | 33.66 | 37.08 | 39.19 | 42.61 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 50.78 | |
| MACD (12,26,9): | 0.4100 | |
| Directional Movement: | 5.66 | |
| AROON (14): | 35.71 | |
| DEMA (21): | 35.82 | |
| Parabolic SAR (0,02-0,02-0,2): | 38.78 | |
| Elder Ray (13): | -0.17 | |
| Super Trend (3,10): | 34.14 | |
| Zig ZAG (10): | 35.51 | |
| VORTEX (21): | 1.1000 | |
| Stochastique (14,3,5): | 32.06 | |
| TEMA (21): | 36.82 | |
| Williams %R (14): | -78.37 | |
| Chande Momentum Oscillator (20): | -0.40 | |
| Repulse (5,40,3): | 0.1500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.2200 | |
| Courbe Coppock: | 14.74 |
| MA7: | 35.88 | |
| MA20: | 35.31 | |
| MA50: | 35.00 | |
| MA100: | 39.66 | |
| MAexp7: | 35.77 | |
| MAexp20: | 35.38 | |
| MAexp50: | 36.26 | |
| MAexp100: | 39.93 | |
| Price / MA7: | -1.03% | |
| Price / MA20: | +0.57% | |
| Price / MA50: | +1.46% | |
| Price / MA100: | -10.46% | |
| Price / MAexp7: | -0.73% | |
| Price / MAexp20: | +0.37% | |
| Price / MAexp50: | -2.07% | |
| Price / MAexp100: | -11.07% |
News
Don"t forget to follow the news on METHANEX CORP.. At the time of publication of this analysis, the latest news was as follows:
- Johnson Matthey’s latest ATR technology licence underway after Methanex reaches final investment decision for Geismar 3 plant
- Methanex Announces Sale of US$700 Million 10-Year Notes
- Industry Welcomes Second-Generation Low Emission Methanol-Fuelled Vessels
- Methanex Files Shelf Prospectus for Future Debt Offerings
- Methanex Reports Second Quarter 2019 Results
This member declared not having a position on this financial instrument or a related financial instrument.
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