EDP - 1H - Technical analysis published on 09/06/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
61%
17%
My opinion
Bearish under 4.179 EUR
My targets
3.905 EUR (-4.87%)
3.859 EUR (-5.99%)
My analysis
The bearish trend is currently very strong for EDP. As long as the price remains below the resistance at 4.179 EUR, you could try to take advantage of the bearish rally. The first bearish objective is located at 3.905 EUR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 3.859 EUR as an objective. Crossing it would then enable sellers to target 3.528 EUR. 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.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
7.3
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Additional analysis
Quotes
EDP rating 4.105 EUR. The price registered an increase of +0.24% on the session and was traded between 4.065 EUR and 4.114 EUR over the period. The price is currently at +0.98% from its lowest and -0.22% from its highest.4.065
4.114
4.105
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EDP chart shows a sharp 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 3 are neutral and 11 are bearish. No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.528 | 3.905 | 4.086 | 4.105 | 4.179 | 4.296 | 4.394 |
| Change (%) | -14.06% | -4.87% | -0.46% | - | +1.80% | +4.65% | +7.04% |
| Change | -0.577 | -0.200 | -0.019 | - | +0.074 | +0.191 | +0.289 |
| Level | Intermediate | Major | Major | - | Major | 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 | 3.999 | 4.047 | 4.071 | 4.119 | 4.143 | 4.191 | 4.215 |
| Camarilla | 4.075 | 4.082 | 4.088 | 4.095 | 4.102 | 4.108 | 4.115 |
| Woodie | 3.987 | 4.041 | 4.059 | 4.113 | 4.131 | 4.185 | 4.203 |
| Fibonacci | 4.047 | 4.075 | 4.092 | 4.119 | 4.147 | 4.164 | 4.191 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.859 | 4.004 | 4.084 | 4.229 | 4.309 | 4.454 | 4.534 |
| Camarilla | 4.102 | 4.123 | 4.143 | 4.164 | 4.185 | 4.205 | 4.226 |
| Woodie | 3.827 | 3.988 | 4.052 | 4.213 | 4.277 | 4.438 | 4.502 |
| Fibonacci | 4.004 | 4.090 | 4.143 | 4.229 | 4.315 | 4.368 | 4.454 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.687 | 3.858 | 4.032 | 4.203 | 4.377 | 4.548 | 4.722 |
| Camarilla | 4.111 | 4.143 | 4.174 | 4.206 | 4.238 | 4.269 | 4.301 |
| Woodie | 3.689 | 3.859 | 4.034 | 4.204 | 4.379 | 4.549 | 4.724 |
| Fibonacci | 3.858 | 3.990 | 4.071 | 4.203 | 4.335 | 4.416 | 4.548 |
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): | 37.85 | |
| MACD (12,26,9): | -0.0260 | |
| Directional Movement: | -20.696 | |
| AROON (14): | -50.000 | |
| DEMA (21): | 4.098 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.131 | |
| Elder Ray (13): | -0.012 | |
| Super Trend (3,10): | 4.148 | |
| Zig ZAG (10): | 4.109 | |
| VORTEX (21): | 0.8520 | |
| Stochastique (14,3,5): | 41.18 | |
| TEMA (21): | 4.095 | |
| Williams %R (14): | -56.86 | |
| Chande Momentum Oscillator (20): | -0.041 | |
| Repulse (5,40,3): | 0.2270 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0900 | |
| Courbe Coppock: | 2.28 |
| MA7: | 4.191 | |
| MA20: | 4.187 | |
| MA50: | 4.253 | |
| MA100: | 4.494 | |
| MAexp7: | 4.109 | |
| MAexp20: | 4.133 | |
| MAexp50: | 4.176 | |
| MAexp100: | 4.196 | |
| Price / MA7: | -2.05% | |
| Price / MA20: | -1.96% | |
| Price / MA50: | -3.48% | |
| Price / MA100: | -8.66% | |
| Price / MAexp7: | -0.10% | |
| Price / MAexp20: | -0.68% | |
| Price / MAexp50: | -1.70% | |
| Price / MAexp100: | -2.17% |
Quotes :
-
15 min delayed data
-
Euronext Lisbonne
News
The latest news and videos published on EDP at the time of the analysis were as follows:
- Parade Technologies Announces World’s First Integrated Display eDP Timing Controller with Embedded Source Drivers and Touchscreen Controller for Notebook LTPS and Oxide In-Cell Panels
- EDP Partners with Vodafone Portugal and TechSee to Launch Visual Assistance for Customers and Field Technicians
- NIPSCO, EDP Renewables to Bring Indiana Crossroads II Wind Farm and Indiana Crossroads Solar Park to Northwest Indiana
- EdpFinance B.V. - Half Year Report 2020
- Parade Introduces New eDP Tcons and Source Drivers Optimized for HDR Gaming Displays up to UHD Resolution
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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