MERCEDES-BENZ GRP NA O.N. - Daily - Technical analysis published on 08/09/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
17%
67%
17%
My opinion
Bearish under 73.60 EUR
My targets
65.18 EUR (-7.10%)
59.87 EUR (-14.67%)
My analysis
The strong short-term decline in MERCEDES-BENZ GRP NA O.N. calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 73.60 EUR, one could consider taking advantage of the short-term movement. The first bearish objective is located at 65.18 EUR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 59.87 EUR as an objective. Crossing it would then enable sellers to target 56.48 EUR. Be careful, a return to above 73.60 EUR could jeopardize the reversal.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
2.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
MERCEDES-BENZ GRP NA O.N. rating 70.16 EUR. The price registered a decrease of -0.17% on the session with the lowest point at 69.84 EUR and the highest point at 70.63 EUR. The deviation from the price is +0.46% for the low point and -0.67% for the high point.69.84
70.63
70.16
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this MERCEDES-BENZ GRP NA O.N. chart shows a slightly bullish trend. 53.57% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently being given by short-term moving averages indicate that this slightly bullish trend could be reversed. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : Daily
Technical indicators are bearish. There is still some doubt about the decline in the price.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Ichimoku - Bullish crossover : Tenkan & Kijun
Type : Bullish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 59.87 | 65.18 | 70.10 | 70.16 | 73.60 | 76.10 |
| Change (%) | -14.67% | -7.10% | -0.09% | - | +4.90% | +8.47% |
| Change | -10.29 | -4.98 | -0.06 | - | +3.44 | +5.94 |
| Level | Minor | Major | Major | - | 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 | 67.21 | 68.39 | 69.34 | 70.52 | 71.47 | 72.65 | 73.60 |
| Camarilla | 69.69 | 69.89 | 70.09 | 70.28 | 70.48 | 70.67 | 70.87 |
| Woodie | 67.09 | 68.33 | 69.22 | 70.46 | 71.35 | 72.59 | 73.48 |
| Fibonacci | 68.39 | 69.21 | 69.71 | 70.52 | 71.34 | 71.84 | 72.65 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 65.50 | 67.58 | 69.54 | 71.62 | 73.58 | 75.66 | 77.62 |
| Camarilla | 70.39 | 70.76 | 71.13 | 71.50 | 71.87 | 72.24 | 72.61 |
| Woodie | 65.44 | 67.55 | 69.48 | 71.59 | 73.52 | 75.63 | 77.56 |
| Fibonacci | 67.58 | 69.12 | 70.08 | 71.62 | 73.16 | 74.12 | 75.66 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 63.75 | 66.26 | 69.45 | 71.96 | 75.15 | 77.66 | 80.85 |
| Camarilla | 71.07 | 71.60 | 72.12 | 72.64 | 73.16 | 73.69 | 74.21 |
| Woodie | 64.09 | 66.43 | 69.79 | 72.13 | 75.49 | 77.83 | 81.19 |
| Fibonacci | 66.26 | 68.44 | 69.78 | 71.96 | 74.14 | 75.48 | 77.66 |
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): | 41.29 | |
| MACD (12,26,9): | -0.4000 | |
| Directional Movement: | -12.58 | |
| AROON (14): | 14.29 | |
| DEMA (21): | 71.09 | |
| Parabolic SAR (0,02-0,02-0,2): | 73.62 | |
| Elder Ray (13): | -1.07 | |
| Super Trend (3,10): | 73.65 | |
| Zig ZAG (10): | 70.30 | |
| VORTEX (21): | 0.9300 | |
| Stochastique (14,3,5): | 38.34 | |
| TEMA (21): | 70.61 | |
| Williams %R (14): | -68.97 | |
| Chande Momentum Oscillator (20): | -1.10 | |
| Repulse (5,40,3): | 0.1900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0600 | |
| Courbe Coppock: | 2.40 |
| MA7: | 70.94 | |
| MA20: | 71.65 | |
| MA50: | 72.50 | |
| MA100: | 69.50 | |
| MAexp7: | 70.97 | |
| MAexp20: | 71.54 | |
| MAexp50: | 71.43 | |
| MAexp100: | 69.71 | |
| Price / MA7: | -1.10% | |
| Price / MA20: | -2.08% | |
| Price / MA50: | -3.23% | |
| Price / MA100: | +0.95% | |
| Price / MAexp7: | -1.14% | |
| Price / MAexp20: | -1.93% | |
| Price / MAexp50: | -1.78% | |
| Price / MAexp100: | +0.65% |
Quotes :
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15 min delayed data
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Germany Stocks
News
The last news published on MERCEDES-BENZ GRP NA O.N. at the time of the generation of this analysis was as follows:
- Mercedes-Benz Group AG Supervisory Board reappoints Ola Källenius and Markus Schäfer and sharpens areas of responsibility of Board of Management
- Mercedes-Benz Q2 Performance Underpinned by Strong Sales of Top-End Cars and Premium Vans
- Mercedes-Benz Group AG Raises Full-Year Guidance Based on Solid Financial Results in the Second Quarter
- EQS-Adhoc: Mercedes-Benz Group AG raises full-year guidance based on solid financial results in the second quarter
- Mercedes-Benz Trains More Than 600 Data and AI Specialists Worldwide in 2023
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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