ESTX CHEM EUR (PRICE) - 1H - Technical analysis published on 10/31/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
11%
6%
My opinion
Bullish above 1,370.20 EUR
My targets
1,400.68 EUR (+0.99%)
1,414.36 EUR (+1.97%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on ESTX CHEM EUR (PRICE) as long as the price remains well above 1,370.20 EUR. The buyers' bullish objective is set at 1,400.68 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1,414.36 EUR. If there is any crossing, the next objective would be the resistance located at 1,457.60 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ESTX CHEM EUR (PRICE) rating is 1,386.99 EUR. On the day, this instrument gained +1.93% and was between 1,361.96 EUR and 1,388.42 EUR. This implies that the price is at +1.84% from its lowest and at -0.10% from its highest.1,361.96
1,388.42
1,386.99
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of ESTX CHEM EUR (PRICE) indicates that the overall trend is strongly bullish. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,336.73 | 1,355.85 | 1,370.20 | 1,386.99 | 1,389.04 | 1,400.68 | 1,414.36 |
| Change (%) | -3.62% | -2.25% | -1.21% | - | +0.15% | +0.99% | +1.97% |
| Change | -50.26 | -31.14 | -16.79 | - | +2.05 | +13.69 | +27.37 |
| Level | Minor | Major | Major | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,346.14 | 1,352.34 | 1,356.55 | 1,362.75 | 1,366.96 | 1,373.16 | 1,377.37 |
| Camarilla | 1,357.91 | 1,358.86 | 1,359.82 | 1,360.77 | 1,361.72 | 1,362.68 | 1,363.63 |
| Woodie | 1,345.16 | 1,351.84 | 1,355.57 | 1,362.25 | 1,365.98 | 1,372.66 | 1,376.39 |
| Fibonacci | 1,352.34 | 1,356.31 | 1,358.77 | 1,362.75 | 1,366.72 | 1,369.18 | 1,373.16 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,261.28 | 1,287.20 | 1,322.48 | 1,348.40 | 1,383.68 | 1,409.60 | 1,444.88 |
| Camarilla | 1,340.93 | 1,346.54 | 1,352.15 | 1,357.76 | 1,363.37 | 1,368.98 | 1,374.59 |
| Woodie | 1,265.96 | 1,289.54 | 1,327.16 | 1,350.74 | 1,388.36 | 1,411.94 | 1,449.56 |
| Fibonacci | 1,287.20 | 1,310.58 | 1,325.02 | 1,348.40 | 1,371.78 | 1,386.22 | 1,409.60 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,241.86 | 1,305.72 | 1,353.02 | 1,416.88 | 1,464.18 | 1,528.04 | 1,575.34 |
| Camarilla | 1,369.74 | 1,379.93 | 1,390.12 | 1,400.31 | 1,410.50 | 1,420.69 | 1,430.88 |
| Woodie | 1,233.57 | 1,301.58 | 1,344.73 | 1,412.74 | 1,455.89 | 1,523.90 | 1,567.05 |
| Fibonacci | 1,305.72 | 1,348.19 | 1,374.42 | 1,416.88 | 1,459.35 | 1,485.58 | 1,528.04 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 71.43 | |
| MACD (12,26,9): | 7.1400 | |
| Directional Movement: | 26.72 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 1,373.12 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,356.51 | |
| Elder Ray (13): | 15.36 | |
| Super Trend (3,10): | 1,361.06 | |
| Zig ZAG (10): | 1,384.91 | |
| VORTEX (21): | 1.2000 | |
| Stochastique (14,3,5): | 76.40 | |
| TEMA (21): | 1,375.26 | |
| Williams %R (14): | -4.30 | |
| Chande Momentum Oscillator (20): | 26.98 | |
| Repulse (5,40,3): | 1.6400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0700 | |
| Courbe Coppock: | 0.96 |
| MA7: | 1,350.49 | |
| MA20: | 1,364.94 | |
| MA50: | 1,403.55 | |
| MA100: | 1,416.52 | |
| MAexp7: | 1,372.06 | |
| MAexp20: | 1,363.88 | |
| MAexp50: | 1,355.03 | |
| MAexp100: | 1,356.36 | |
| Price / MA7: | +2.70% | |
| Price / MA20: | +1.62% | |
| Price / MA50: | -1.18% | |
| Price / MA100: | -2.08% | |
| Price / MAexp7: | +1.09% | |
| Price / MAexp20: | +1.69% | |
| Price / MAexp50: | +2.36% | |
| Price / MAexp100: | +2.26% |
Quotes :
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15 min delayed data
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STOXX Indices
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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…
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