MICHELIN - Daily - Technical analysis published on 11/05/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 113.92 EUR
My targets
118.00 EUR (+2.43%)
122.26 EUR (+6.13%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on MICHELIN as long as the price remains well above 113.92 EUR. The buyers” bullish objective is set at 118.00 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 122.26 EUR. If there is any crossing, the next objective would be the resistance located at 130.15 EUR. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
FORCE
0
10
8.4
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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 MICHELIN price is 115.20 EUR. The price registered an increase of +0.83% on the session and was between 114.50 EUR and 115.20 EUR. This implies that the price is at +0.61% from its lowest and at 0% from its highest.114.50
115.20
115.20
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
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 HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of MICHELIN in Daily shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 15 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Near resistance of channel
Type : Bearish
Timeframe : Daily
Resistance of triangle is broken
Type : Bullish
Timeframe : Daily
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 | 96.20 | 102.77 | 113.92 | 115.20 | 118.00 | 122.26 | 130.15 |
| Change (%) | -16.49% | -10.79% | -1.11% | - | +2.43% | +6.13% | +12.98% |
| Change | -19.00 | -12.43 | -1.28 | - | +2.80 | +7.06 | +14.95 |
| 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 | 110.90 | 111.25 | 111.90 | 112.25 | 112.90 | 113.25 | 113.90 |
| Camarilla | 110.60 | 110.80 | 111.00 | 111.20 | 111.40 | 112.73 | 112.83 |
| Woodie | 107.90 | 108.48 | 110.10 | 110.68 | 112.30 | 112.88 | 114.50 |
| Fibonacci | 108.30 | 109.14 | 109.66 | 110.50 | 111.34 | 111.86 | 112.70 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 101.08 | 103.77 | 107.48 | 110.17 | 113.88 | 116.57 | 120.28 |
| Camarilla | 109.44 | 110.03 | 110.61 | 111.20 | 111.79 | 112.37 | 112.96 |
| Woodie | 101.60 | 104.03 | 108.00 | 110.43 | 114.40 | 116.83 | 120.80 |
| Fibonacci | 103.77 | 106.21 | 107.72 | 110.17 | 112.61 | 114.12 | 116.57 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 81.73 | 88.71 | 98.90 | 105.88 | 116.07 | 123.05 | 133.24 |
| Camarilla | 104.38 | 105.95 | 107.53 | 109.10 | 110.67 | 112.25 | 113.82 |
| Woodie | 83.35 | 89.51 | 100.52 | 106.68 | 117.69 | 123.85 | 134.86 |
| Fibonacci | 88.71 | 95.27 | 99.32 | 105.88 | 112.44 | 116.49 | 123.05 |
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): | 68.44 | |
| MACD (12,26,9): | 3.2100 | |
| Directional Movement: | 11.16 | |
| AROON (14): | 57.14 | |
| DEMA (21): | 109.66 | |
| Parabolic SAR (0,02-0,02-0,2): | 106.45 | |
| Elder Ray (13): | 4.25 | |
| Super Trend (3,10): | 103.22 | |
| Zig ZAG (10): | 112.55 | |
| VORTEX (21): | 1.2100 | |
| Stochastique (14,3,5): | 84.83 | |
| TEMA (21): | 111.46 | |
| Williams %R (14): | -2.46 | |
| Chande Momentum Oscillator (20): | 8.05 | |
| Repulse (5,40,3): | 2.7900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3000 | |
| Courbe Coppock: | 16.63 |
| MA7: | 110.44 | |
| MA20: | 105.89 | |
| MA50: | 102.22 | |
| MA100: | 102.80 | |
| MAexp7: | 109.80 | |
| MAexp20: | 107.07 | |
| MAexp50: | 103.79 | |
| MAexp100: | 102.73 | |
| Price / MA7: | +4.31% | |
| Price / MA20: | +8.79% | |
| Price / MA50: | +12.70% | |
| Price / MA100: | +12.06% | |
| Price / MAexp7: | +4.92% | |
| Price / MAexp20: | +7.59% | |
| Price / MAexp50: | +10.99% | |
| Price / MAexp100: | +12.14% |
News
The last news published on MICHELIN at the time of the generation of this analysis was as follows:
- Michelin: Disclosure of trading in own shares - Period from 25 to 31 October 2019
- Michelin: Disclosure of trading in own shares - Period from 18 to 24 October 2019
- Michelin: Sales up 1.3% like-for-like in the first nine months of 2019, in an environment that deteriorated sharply over the period. Contribution from acquisitions in line with expectations. 2019 market forecasts lowered; guidance confirmed
-
Watch: Belgium's famous foods get Michelin-starred makeover
- Michelin: Disclosure of trading in own shares - Period from 4 to 10 October 2019
This member declared not having a position on this financial instrument or a related financial instrument.
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