COVALENT - CQT/USD - 1H - Technical analysis published on 04/06/2024 (GMT)
- 170
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
39%
17%
44%
My opinion
Bearish under 0.276410 USD
My targets
0.262183 USD (-2.84%)
0.244317 USD (-9.46%)
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 0.276410 USD remains possible. It is advisable to trade COVALENT - CQT/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 0.276410 USD. The next bearish objective for sellers is set at 0.262183 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.244317 USD. In case of crossing, the next objective would be the support located at 0.204254 USD. PS: if there is a bullish break in the resistance located at 0.276410 USD 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.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.1
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
COVALENT - CQT/USD rating 0.269833 USD. On the day, this instrument lost -0.05% and was between 0.266736 USD and 0.275286 USD. This implies that the price is at +1.16% from its lowest and at -1.98% from its highest.0.266736
0.275286
0.269833
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
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:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of COVALENT - CQT/USD indicates that the overall trend is bearish. 64.29% 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, only 7 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.204254 | 0.262183 | 0.268752 | 0.269833 | 0.283473 | 0.304567 | 0.317015 |
| Change (%) | -24.30% | -2.84% | -0.40% | - | +5.05% | +12.87% | +17.49% |
| Change | -0.065579 | -0.007650 | -0.001081 | - | +0.013640 | +0.034734 | +0.047182 |
| Level | Major | Minor | Major | - | Minor | Major | Minor |
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 | 0.231586 | 0.246885 | 0.258429 | 0.273728 | 0.285272 | 0.300571 | 0.312115 |
| Camarilla | 0.262592 | 0.265053 | 0.267513 | 0.269974 | 0.272435 | 0.274895 | 0.277356 |
| Woodie | 0.229710 | 0.245946 | 0.256553 | 0.272789 | 0.283396 | 0.299632 | 0.310239 |
| Fibonacci | 0.246885 | 0.257139 | 0.263474 | 0.273728 | 0.283982 | 0.290317 | 0.300571 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.184183 | 0.244317 | 0.276410 | 0.336544 | 0.368637 | 0.428771 | 0.460864 |
| Camarilla | 0.283142 | 0.291596 | 0.300050 | 0.308504 | 0.316958 | 0.325412 | 0.333866 |
| Woodie | 0.170164 | 0.237307 | 0.262391 | 0.329534 | 0.354618 | 0.421761 | 0.446845 |
| Fibonacci | 0.244317 | 0.279547 | 0.301313 | 0.336544 | 0.371774 | 0.393540 | 0.428771 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.093582 | 0.197032 | 0.256580 | 0.360030 | 0.419578 | 0.523028 | 0.582576 |
| Camarilla | 0.271305 | 0.286246 | 0.301188 | 0.316129 | 0.331071 | 0.346012 | 0.360954 |
| Woodie | 0.071632 | 0.186057 | 0.234630 | 0.349055 | 0.397628 | 0.512053 | 0.560626 |
| Fibonacci | 0.197032 | 0.259297 | 0.297764 | 0.360030 | 0.422295 | 0.460762 | 0.523028 |
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): | 50.35 | |
| MACD (12,26,9): | -0.0004 | |
| Directional Movement: | 13.763368 | |
| AROON (14): | 7.142857 | |
| DEMA (21): | 0.268897 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.268628 | |
| Elder Ray (13): | 0.000618 | |
| Super Trend (3,10): | 0.274711 | |
| Zig ZAG (10): | 0.270243 | |
| VORTEX (21): | 1.1511 | |
| Stochastique (14,3,5): | 41.52 | |
| TEMA (21): | 0.269590 | |
| Williams %R (14): | -64.73 | |
| Chande Momentum Oscillator (20): | -0.000028 | |
| Repulse (5,40,3): | -0.9542 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0533 | |
| Courbe Coppock: | 0.34 |
| MA7: | 0.282264 | |
| MA20: | 0.315278 | |
| MA50: | 0.333818 | |
| MA100: | 0.285467 | |
| MAexp7: | 0.269770 | |
| MAexp20: | 0.269709 | |
| MAexp50: | 0.271726 | |
| MAexp100: | 0.277203 | |
| Price / MA7: | -4.40% | |
| Price / MA20: | -14.41% | |
| Price / MA50: | -19.17% | |
| Price / MA100: | -5.48% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | +0.05% | |
| Price / MAexp50: | -0.70% | |
| Price / MAexp100: | -2.66% |
Quotes :
-
Real time data
-
Cryptocompare
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 COVALENT - CQT/USD - 1H