KANDI TECHNOLOGIES GROUP INC. - Daily - Technical analysis published on 09/20/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
33%
17%
50%
My opinion
Bearish under 5.69 USD
My targets
4.95 USD (-2.75%)
4.30 USD (-15.52%)
My analysis
KANDI TECHNOLOGIES GROUP INC. is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 5.69 USD. The next support located at 4.95 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 4.30 USD. Below this support, sellers could then target 3.56 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
FORCE
0
10
4.5
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The KANDI TECHNOLOGIES GROUP INC. price is 5.09 USD. On the day, this instrument lost -0.20% with the lowest point at 5.03 USD and the highest point at 5.17 USD. The deviation from the price is +1.19% for the low point and -1.55% for the high point.5.03
5.17
5.09
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of KANDI TECHNOLOGIES GROUP INC. indicates that the overall trend is strongly bearish. 82.14% 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 scanner does not detect any result on moving averages that would impact this trend.
On the 18 technical indicators analysed, 6 are bullish, 9 are neutral and 3 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.56 | 4.30 | 4.95 | 5.09 | 5.69 | 6.25 | 7.21 |
| Change (%) | -30.06% | -15.52% | -2.75% | - | +11.79% | +22.79% | +41.65% |
| Change | -1.53 | -0.79 | -0.14 | - | +0.60 | +1.16 | +2.12 |
| Level | Major | Intermediate | Major | - | Major | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.88 | 4.95 | 5.03 | 5.10 | 5.17 | 5.24 | 5.32 |
| Camarilla | 5.06 | 5.07 | 5.09 | 5.10 | 5.11 | 5.13 | 5.14 |
| Woodie | 4.88 | 4.95 | 5.03 | 5.10 | 5.17 | 5.24 | 5.32 |
| Fibonacci | 4.95 | 5.01 | 5.04 | 5.10 | 5.15 | 5.19 | 5.24 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.33 | 4.64 | 4.89 | 5.20 | 5.45 | 5.76 | 6.01 |
| Camarilla | 4.98 | 5.03 | 5.08 | 5.13 | 5.18 | 5.23 | 5.28 |
| Woodie | 4.29 | 4.63 | 4.85 | 5.19 | 5.41 | 5.75 | 5.97 |
| Fibonacci | 4.64 | 4.86 | 4.99 | 5.20 | 5.42 | 5.55 | 5.76 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.09 | 4.42 | 4.76 | 5.09 | 5.43 | 5.76 | 6.10 |
| Camarilla | 4.93 | 4.99 | 5.05 | 5.11 | 5.17 | 5.23 | 5.29 |
| Woodie | 4.11 | 4.42 | 4.78 | 5.09 | 5.45 | 5.76 | 6.12 |
| Fibonacci | 4.42 | 4.67 | 4.83 | 5.09 | 5.34 | 5.50 | 5.76 |
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): | 47.10 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | -3.17 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 5.13 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.47 | |
| Elder Ray (13): | -0.04 | |
| Super Trend (3,10): | 4.81 | |
| Zig ZAG (10): | 5.10 | |
| VORTEX (21): | 0.9600 | |
| Stochastique (14,3,5): | 24.14 | |
| TEMA (21): | 5.14 | |
| Williams %R (14): | -75.86 | |
| Chande Momentum Oscillator (20): | 0.04 | |
| Repulse (5,40,3): | 1.0400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 2.32 |
| MA7: | 5.10 | |
| MA20: | 5.13 | |
| MA50: | 5.18 | |
| MA100: | 5.04 | |
| MAexp7: | 5.11 | |
| MAexp20: | 5.13 | |
| MAexp50: | 5.14 | |
| MAexp100: | 5.18 | |
| Price / MA7: | -0.20% | |
| Price / MA20: | -0.78% | |
| Price / MA50: | -1.74% | |
| Price / MA100: | +0.99% | |
| Price / MAexp7: | -0.39% | |
| Price / MAexp20: | -0.78% | |
| Price / MAexp50: | -0.97% | |
| Price / MAexp100: | -1.74% |
News
The last news published on KANDI TECHNOLOGIES GROUP INC. at the time of the generation of this analysis was as follows:
- Kandi Technologies Reports Second Quarter 2019 Financial Results
- Kandi JV Company Received Approval to be Pure Electric Vehicle Production Manufacturer by MIIT
- Kandi Technologies Announces It Will Report Second Quarter 2019 Financial Results and Hold a Conference Call on August 9, 2019
- Kandi Technologies Reports JV's Receipt of RMB 876 Million (USD 127.7 Million) New Energy Vehicle Subsidy from Chinese National Government
- Kandi Technologies Announces Share Buyback of up to $20 Million
This member declared not having a position on this financial instrument or a related financial instrument.
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