CHEGG INC.
CHEGG INC.
- USD (-)
- 15 min delayed data - NYSE Stocks
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Stocks
Ticker: CHGG
ISIN:

CHEGG INC. - Daily - Technical analysis published on 10/10/2019 (GMT)

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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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  • Timeframe : Daily
  • - Analysis generated on
  • Status : LEVEL MAINTAINED

Summary of the analysis

Trends
Court terme: Strongly bearish
De fond: Strongly bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 34.74 USD
My targets
29.55 USD (-5.95%)
22.97 USD (-26.89%)
My analysis
The bearish trend is currently very strong for CHEGG INC.. As long as the price remains below the resistance at 34.74 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 29.55 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 22.97 USD as an objective. Crossing it would then enable sellers to target 16.20 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
FORCE
0
10
4.8

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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

CHEGG INC. rating 31.42 USD. The price registered an increase of +0.61% on the session and was between 30.90 USD and 31.87 USD. This implies that the price is at +1.68% from its lowest and at -1.41% from its highest.

30.90
31.87
31.42

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



A study of price movements over other periods shows the following variations:

Technical


Technical analysis of CHEGG INC. in Daily shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:

Central Indicators

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Daily



In fact, only 9 technical indicators out of 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly


Price is back over the pivot point

Type : Bullish

Timeframe : Daily



No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 16.20 22.97 29.55 31.42 34.74 36.70 40.05
Change (%) -48.44% -26.89% -5.95% - +10.57% +16.80% +27.47%
Change -15.22 -8.45 -1.87 - +3.32 +5.28 +8.63
Level Minor Major Major - Major Intermediate Minor



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
Standard29.8730.2030.7231.0531.5631.8932.41
Camarilla31.0031.0831.1531.2331.3131.3931.46
Woodie29.9630.2530.8131.0931.6531.9432.50
Fibonacci30.2030.5230.7231.0531.3731.5731.89


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard26.7727.5329.0129.7731.2532.0133.49
Camarilla29.8730.0830.2930.4930.7030.9031.11
Woodie27.1327.7129.3729.9531.6132.1933.85
Fibonacci27.5328.3928.9129.7730.6331.1532.01


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard15.7922.5626.2633.0336.7343.5047.20
Camarilla27.0728.0328.9929.9530.9131.8732.83
Woodie14.2521.7924.7232.2635.1942.7345.66
Fibonacci22.5626.5629.0333.0337.0339.5043.50

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): 41.58
MACD (12,26,9): -1.6800
Directional Movement: -6.67
AROON (14): -57.15
DEMA (21): 29.53
Parabolic SAR (0,02-0,02-0,2): 28.69
Elder Ray (13): 0.24
Super Trend (3,10): 32.81
Zig ZAG (10): 31.43
VORTEX (21): 0.9000
Stochastique (14,3,5): 44.42
TEMA (21): 29.59
Williams %R (14): -49.43
Chande Momentum Oscillator (20): -1.55
Repulse (5,40,3): 3.0600
ROCnROLL: -1
TRIX (15,9): -0.8600
Courbe Coppock: 19.04
MA7: 30.35
MA20: 31.82
MA50: 36.63
MA100: 38.45
MAexp7: 30.80
MAexp20: 31.97
MAexp50: 35.06
MAexp100: 36.70
Price / MA7: +3.53%
Price / MA20: -1.26%
Price / MA50: -14.22%
Price / MA100: -18.28%
Price / MAexp7: +2.01%
Price / MAexp20: -1.72%
Price / MAexp50: -10.38%
Price / MAexp100: -14.39%

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

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