ARROW ELECTRONICS INC. - Daily - Technical analysis published on 12/10/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 79.92 USD
My targets
83.90 USD (+1.55%)
86.10 USD (+4.21%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on ARROW ELECTRONICS INC. as long as the price remains well above 79.92 USD. The buyers” bullish objective is set at 83.90 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 86.10 USD. 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
8.6
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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 ARROW ELECTRONICS INC. rating is 82.62 USD. The price has increased by +0.54% since the last closing with the lowest point at 81.71 USD and the highest point at 82.88 USD. The deviation from the price is +1.11% for the low point and -0.31% for the high point.81.71
82.88
82.62
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 HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of ARROW ELECTRONICS INC. indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish harami
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 72.77 | 77.29 | 79.92 | 82.62 | 83.90 | 86.10 |
| Change (%) | -11.92% | -6.45% | -3.27% | - | +1.55% | +4.21% |
| Change | -9.85 | -5.33 | -2.70 | - | +1.28 | +3.48 |
| Level | Major | Intermediate | Major | - | Intermediate | Major |
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 | 81.30 | 81.62 | 81.90 | 82.22 | 82.50 | 82.82 | 83.10 |
| Camarilla | 82.02 | 82.07 | 82.13 | 82.18 | 82.24 | 82.29 | 82.35 |
| Woodie | 81.28 | 81.61 | 81.88 | 82.21 | 82.48 | 82.81 | 83.08 |
| Fibonacci | 81.62 | 81.85 | 81.99 | 82.22 | 82.45 | 82.59 | 82.82 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 74.78 | 76.48 | 79.42 | 81.12 | 84.06 | 85.76 | 88.70 |
| Camarilla | 81.07 | 81.50 | 81.93 | 82.35 | 82.78 | 83.20 | 83.63 |
| Woodie | 75.39 | 76.79 | 80.03 | 81.43 | 84.67 | 86.07 | 89.31 |
| Fibonacci | 76.48 | 78.26 | 79.35 | 81.12 | 82.90 | 83.99 | 85.76 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 72.37 | 75.34 | 77.49 | 80.46 | 82.61 | 85.58 | 87.73 |
| Camarilla | 78.23 | 78.70 | 79.17 | 79.64 | 80.11 | 80.58 | 81.05 |
| Woodie | 71.96 | 75.14 | 77.08 | 80.26 | 82.20 | 85.38 | 87.32 |
| Fibonacci | 75.34 | 77.30 | 78.50 | 80.46 | 82.42 | 83.62 | 85.58 |
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): | 67.86 | |
| MACD (12,26,9): | 0.9200 | |
| Directional Movement: | 16.37 | |
| AROON (14): | 35.71 | |
| DEMA (21): | 81.74 | |
| Parabolic SAR (0,02-0,02-0,2): | 78.85 | |
| Elder Ray (13): | 1.34 | |
| Super Trend (3,10): | 78.64 | |
| Zig ZAG (10): | 82.74 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 90.96 | |
| TEMA (21): | 81.62 | |
| Williams %R (14): | -4.69 | |
| Chande Momentum Oscillator (20): | 3.45 | |
| Repulse (5,40,3): | 1.4400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1400 | |
| Courbe Coppock: | 3.81 |
| MA7: | 81.16 | |
| MA20: | 80.30 | |
| MA50: | 78.14 | |
| MA100: | 74.67 | |
| MAexp7: | 81.51 | |
| MAexp20: | 80.51 | |
| MAexp50: | 78.49 | |
| MAexp100: | 76.29 | |
| Price / MA7: | +1.80% | |
| Price / MA20: | +2.89% | |
| Price / MA50: | +5.73% | |
| Price / MA100: | +10.65% | |
| Price / MAexp7: | +1.36% | |
| Price / MAexp20: | +2.62% | |
| Price / MAexp50: | +5.26% | |
| Price / MAexp100: | +8.30% |
News
The last news published on ARROW ELECTRONICS INC. at the time of the generation of this analysis was as follows:
- Arrow Electronics Offers EnOcean’s Portfolio of Energy-harvesting Wireless Solutions
- Arrow Electronics to Host Third-Quarter 2019 Earnings Conference Call
- Arrow Electronics Again Wins Award for Stakeholder/Employee Engagement
- Arrow Electronics Releases Annual Corporate Social Responsibility Report
- Arrow Electronics Expands Red Hat Relationship Within North America
This member declared not having a position on this financial instrument or a related financial instrument.
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