EDP - 1H - Technical analysis published on 02/27/2024 (GMT)
- 82
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
39%
33%
28%
My opinion
Bearish under 3.732 EUR
My targets
3.663 EUR (-1.05%)
3.613 EUR (-2.40%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 3.732 EUR remains possible. It is advisable to trade EDP with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 3.732 EUR. The next bearish objective for sellers is set at 3.663 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 3.613 EUR. In case of crossing, the next objective would be the support located at 2.418 EUR. PS: if there is a bullish break in the resistance located at 3.732 EUR 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.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
3.8
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
EDP rating 3.702 EUR. On the day, this instrument gained +0.87% and was traded between 3.649 EUR and 3.703 EUR over the period. The price is currently at +1.45% from its lowest and -0.03% from its highest.3.649
3.703
3.702
The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.
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
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EDP chart shows a bearish trend. 78.57% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 7 are bullish, 5 are neutral and 6 are bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of triangle
Type : Bullish
Timeframe : 1 hour
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 | 2.418 | 3.613 | 3.663 | 3.702 | 3.732 | 3.848 | 3.905 |
| Change (%) | -34.68% | -2.40% | -1.05% | - | +0.81% | +3.94% | +5.48% |
| Change | -1.284 | -0.089 | -0.039 | - | +0.030 | +0.146 | +0.203 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Intermediate | 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 | 3.570 | 3.613 | 3.641 | 3.684 | 3.712 | 3.755 | 3.783 |
| Camarilla | 3.651 | 3.657 | 3.664 | 3.670 | 3.677 | 3.683 | 3.690 |
| Woodie | 3.564 | 3.609 | 3.635 | 3.680 | 3.706 | 3.751 | 3.777 |
| Fibonacci | 3.613 | 3.640 | 3.657 | 3.684 | 3.711 | 3.728 | 3.755 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.482 | 3.581 | 3.652 | 3.751 | 3.822 | 3.921 | 3.992 |
| Camarilla | 3.676 | 3.692 | 3.707 | 3.723 | 3.739 | 3.754 | 3.770 |
| Woodie | 3.468 | 3.574 | 3.638 | 3.744 | 3.808 | 3.914 | 3.978 |
| Fibonacci | 3.581 | 3.646 | 3.686 | 3.751 | 3.816 | 3.856 | 3.921 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.216 | 3.588 | 3.865 | 4.237 | 4.514 | 4.886 | 5.163 |
| Camarilla | 3.964 | 4.023 | 4.083 | 4.142 | 4.202 | 4.261 | 4.321 |
| Woodie | 3.169 | 3.564 | 3.818 | 4.213 | 4.467 | 4.862 | 5.116 |
| Fibonacci | 3.588 | 3.836 | 3.989 | 4.237 | 4.485 | 4.638 | 4.886 |
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): | 47.94 | |
| MACD (12,26,9): | -0.0150 | |
| Directional Movement: | -14.495 | |
| AROON (14): | -78.571 | |
| DEMA (21): | 3.675 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.649 | |
| Elder Ray (13): | -0.006 | |
| Super Trend (3,10): | 3.734 | |
| Zig ZAG (10): | 3.690 | |
| VORTEX (21): | 0.8940 | |
| Stochastique (14,3,5): | 30.25 | |
| TEMA (21): | 3.672 | |
| Williams %R (14): | -49.41 | |
| Chande Momentum Oscillator (20): | -0.039 | |
| Repulse (5,40,3): | 0.9620 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0590 | |
| Courbe Coppock: | 1.42 |
| MA7: | 3.727 | |
| MA20: | 3.840 | |
| MA50: | 4.180 | |
| MA100: | 4.149 | |
| MAexp7: | 3.682 | |
| MAexp20: | 3.695 | |
| MAexp50: | 3.723 | |
| MAexp100: | 3.771 | |
| Price / MA7: | -0.67% | |
| Price / MA20: | -3.59% | |
| Price / MA50: | -11.44% | |
| Price / MA100: | -10.77% | |
| Price / MAexp7: | +0.54% | |
| Price / MAexp20: | +0.19% | |
| Price / MAexp50: | -0.56% | |
| Price / MAexp100: | -1.83% |
Quotes :
-
15 min delayed data
-
Euronext Lisbonne
News
Don't forget to follow the news on EDP. At the time of publication of this analysis, the latest news was as follows:
- Kuva Systems, the leading Industrial IoT methane emission detection platform and Montrose Sensible EDP, a leader in revolutionizing the way environmental data is managed and monitored have collaborated to provide a comprehensive suite of environmental data technology
- 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
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis EDP - 1H