OMX STOCKHOLM 30 - 1H - Technical analysis published on 08/29/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 2,174.24 SEK
My targets
2,213.65 SEK (+1.01%)
2,224.22 SEK (+1.49%)
My analysis
OMX STOCKHOLM 30 is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 2,174.24 SEK. The next resistance located at 2,213.65 SEK is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 2,224.22 SEK. After this resistance, buyers could then target 2,260.94 SEK.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. 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
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Additional analysis
Quotes
The OMX STOCKHOLM 30 rating is 2,191.46 SEK. The price registered an increase of +0.79% on the session and was traded between 2,179.63 SEK and 2,194.44 SEK over the period. The price is currently at +0.54% from its lowest and -0.14% from its highest.2,179.63
2,194.44
2,191.46
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
Here is a more detailed summary of the historical variations registered by OMX STOCKHOLM 30:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this OMX STOCKHOLM 30 chart shows a bullish trend. The signals returned by the moving averages are 78.57% bullish. This bullish trend is reinforced by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Moving Average bullish crossovers : MA50 & MA100
Type : Bullish
Timeframe : 1 hour
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
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 2
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 currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
White gravestone / inverted hammer
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 2,160.98 | 2,174.24 | 2,187.16 | 2,191.46 | 2,213.65 | 2,224.22 | 2,260.94 |
Change (%) | -1.39% | -0.79% | -0.20% | - | +1.01% | +1.49% | +3.17% |
Change | -30.48 | -17.22 | -4.30 | - | +22.19 | +32.76 | +69.48 |
Level | Intermediate | Intermediate | Intermediate | - | Minor | Major | Intermediate |
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 | 2,167.77 | 2,173.70 | 2,182.58 | 2,188.51 | 2,197.39 | 2,203.32 | 2,212.20 |
Camarilla | 2,187.39 | 2,188.75 | 2,190.10 | 2,191.46 | 2,192.82 | 2,194.18 | 2,195.53 |
Woodie | 2,169.25 | 2,174.44 | 2,184.06 | 2,189.25 | 2,198.87 | 2,204.06 | 2,213.68 |
Fibonacci | 2,173.70 | 2,179.36 | 2,182.85 | 2,188.51 | 2,194.17 | 2,197.66 | 2,203.32 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,083.55 | 2,108.52 | 2,128.49 | 2,153.46 | 2,173.43 | 2,198.40 | 2,218.37 |
Camarilla | 2,136.11 | 2,140.23 | 2,144.35 | 2,148.47 | 2,152.59 | 2,156.71 | 2,160.83 |
Woodie | 2,081.06 | 2,107.27 | 2,126.00 | 2,152.21 | 2,170.94 | 2,197.15 | 2,215.88 |
Fibonacci | 2,108.52 | 2,125.68 | 2,136.29 | 2,153.46 | 2,170.62 | 2,181.23 | 2,198.40 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,078.79 | 2,139.39 | 2,195.15 | 2,255.75 | 2,311.51 | 2,372.11 | 2,427.87 |
Camarilla | 2,218.92 | 2,229.59 | 2,240.25 | 2,250.92 | 2,261.59 | 2,272.25 | 2,282.92 |
Woodie | 2,076.38 | 2,138.18 | 2,192.74 | 2,254.54 | 2,309.10 | 2,370.90 | 2,425.46 |
Fibonacci | 2,139.39 | 2,183.84 | 2,211.30 | 2,255.75 | 2,300.20 | 2,327.66 | 2,372.11 |
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): | 69.00 | |
MACD (12,26,9): | 8.2900 | |
Directional Movement: | 24.43 | |
AROON (14): | 100.00 | |
DEMA (21): | 2,188.43 | |
Parabolic SAR (0,02-0,02-0,2): | 2,167.72 | |
Elder Ray (13): | 9.91 | |
Super Trend (3,10): | 2,174.42 | |
Zig ZAG (10): | 2,191.46 | |
VORTEX (21): | 1.0800 | |
Stochastique (14,3,5): | 87.14 | |
TEMA (21): | 2,193.07 | |
Williams %R (14): | -9.09 | |
Chande Momentum Oscillator (20): | 23.71 | |
Repulse (5,40,3): | 0.1400 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0500 | |
Courbe Coppock: | 2.26 |
MA7: | 2,158.19 | |
MA20: | 2,181.96 | |
MA50: | 2,226.16 | |
MA100: | 2,240.68 | |
MAexp7: | 2,187.34 | |
MAexp20: | 2,178.17 | |
MAexp50: | 2,169.35 | |
MAexp100: | 2,171.89 | |
Price / MA7: | +1.54% | |
Price / MA20: | +0.44% | |
Price / MA50: | -1.56% | |
Price / MA100: | -2.20% | |
Price / MAexp7: | +0.19% | |
Price / MAexp20: | +0.61% | |
Price / MAexp50: | +1.02% | |
Price / MAexp100: | +0.90% |
Quotes :
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15 min delayed data
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This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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