FOMENTO ECONOMICO MEXICANO S.A.B. DE C.

- USD (-)

- 15 min delayed data - NYSE Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	FMX
ISIN:

FOMENTO ECONOMICO MEXICANO S.A.B. DE C. - 1H - Technical analysis published on 02/09/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

FOMENTO ECONOMICO MEXICANO S.A.B. DE C. - 1H

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

89%

11%

My opinion

Bullish above 139.68 USD

My targets

143.75 USD (+1.17%)

146.45 USD (+3.08%)

My analysis

FOMENTO ECONOMICO MEXICANO S.A.B. DE C. is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 139.68 USD. The next resistance located at 143.75 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 146.45 USD. After this resistance, buyers could then target 150.91 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

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

8.9

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The FOMENTO ECONOMICO MEXICANO S.A.B. DE C. price is 142.08 USD. On the day, this instrument gained +1.87% and was traded between 140.80 USD and 143.18 USD over the period. The price is currently at +0.91% from its lowest and -0.77% from its highest.

140.80

143.18

142.08

The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

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

Technical

Technical analysis of this 1H chart of FOMENTO ECONOMICO MEXICANO S.A.B. DE C. indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, according to the parameters integrated into the Central Analyzer system, 16 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : 1 hour

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

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 engulfing lines

Type : Bearish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	132.57	137.89	139.68	142.08	142.40
Change (%)	-6.69%	-2.95%	-1.69%	-	+0.23%
Change	-9.51	-4.19	-2.40	-	+0.32
Level	Major	Intermediate	Minor	-	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	137.06	137.54	138.51	138.99	139.96	140.44	141.41
Camarilla	139.07	139.20	139.34	139.47	139.60	139.74	139.87
Woodie	137.30	137.66	138.75	139.11	140.20	140.56	141.65
Fibonacci	137.54	138.10	138.44	138.99	139.55	139.89	140.44

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	129.43	132.13	136.59	139.29	143.75	146.45	150.91
Camarilla	139.07	139.73	140.38	141.04	141.70	142.35	143.01
Woodie	130.30	132.57	137.46	139.73	144.62	146.89	151.78
Fibonacci	132.13	134.87	136.56	139.29	142.03	143.72	146.45

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	115.07	120.33	127.94	133.20	140.81	146.07	153.68
Camarilla	132.00	133.18	134.36	135.54	136.72	137.90	139.08
Woodie	116.24	120.92	129.11	133.79	141.98	146.66	154.85
Fibonacci	120.33	125.25	128.29	133.20	138.12	141.16	146.07

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):	66.59
MACD (12,26,9):	0.8200
Directional Movement:	22.65
AROON (14):	64.28
DEMA (21):	141.30
Parabolic SAR (0,02-0,02-0,2):	138.84
Elder Ray (13):	1.67
Super Trend (3,10):	139.41
Zig ZAG (10):	142.42
VORTEX (21):	1.0400
Stochastique (14,3,5):	88.26
TEMA (21):	141.80
Williams %R (14):	-14.84
Chande Momentum Oscillator (20):	3.02
Repulse (5,40,3):	0.1700
ROCnROLL:	1
TRIX (15,9):	0.0400
Courbe Coppock:	3.09

MA7:	140.00
MA20:	135.96
MA50:	131.61
MA100:	122.15
MAexp7:	141.61
MAexp20:	140.38
MAexp50:	139.26
MAexp100:	137.53
Price / MA7:	+1.49%
Price / MA20:	+4.50%
Price / MA50:	+7.96%
Price / MA100:	+16.32%
Price / MAexp7:	+0.33%
Price / MAexp20:	+1.21%
Price / MAexp50:	+2.02%
Price / MAexp100:	+3.31%

Quotes : - 15 min delayed data - NYSE Stocks

News

The latest news and videos published on FOMENTO ECONOMICO MEXICANO S.A.B. DE C. at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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