OMX NORDIC 40
OMXN40
- EUR (-)
- 15 min delayed data - NASDAQ EU Indices
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Indices
Ticker: OMXN40
ISIN:

OMX NORDIC 40 - 1H - Technical analysis published on 07/24/2023 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
39%
11%
50%
My opinion
Bullish above 2,279.21 EUR
My targets
2,310.11 EUR (+0.64%)
2,340.37 EUR (+1.96%)
My analysis
The bullish trend is currently very strong on OMX NORDIC 40. As long as the price remains above the support at 2,279.21 EUR, you could try to benefit from the boom. The first bullish objective is located at 2,310.11 EUR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 2,340.37 EUR as an objective. Crossing it would then enable buyers to target 2,384.22 EUR. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

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
7

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The OMX NORDIC 40 price is 2,295.37 EUR. On the day, this instrument lost -0.01% and was traded between 2,290.10 EUR and 2,307.55 EUR over the period. The price is currently at +0.23% from its lowest and -0.53% from its highest.

2,290.10
2,307.55
2,295.37

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Central Records

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of OMX NORDIC 40 indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, only 7 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Central Indicators

Williams %R indicator is back over -50

Type : Bullish

Timeframe : 1 hour



The analysis of the price chart with Central Patterns scanners does not return any result.

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Central Candlesticks

Bullish harami

Type : Bullish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 2,237.24 2,266.71 2,279.21 2,295.37 2,296.14 2,310.11 2,340.37
Change (%) -2.53% -1.25% -0.70% - +0.03% +0.64% +1.96%
Change -58.13 -28.66 -16.16 - +0.77 +14.74 +45.00
Level Minor Intermediate Major - Intermediate Minor Minor



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
Standard2,262.902,270.422,283.012,290.532,303.122,310.642,323.23
Camarilla2,290.082,291.922,293.772,295.612,297.452,299.302,301.14
Woodie2,265.452,271.692,285.562,291.802,305.672,311.912,325.78
Fibonacci2,270.422,278.102,282.852,290.532,298.212,302.962,310.64


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard2,229.442,243.642,269.632,283.832,309.822,324.022,350.01
Camarilla2,284.562,288.242,291.932,295.612,299.292,302.982,306.66
Woodie2,235.332,246.592,275.522,286.782,315.712,326.972,355.90
Fibonacci2,243.642,259.002,268.482,283.832,299.192,308.672,324.02


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard2,102.002,161.062,229.282,288.342,356.562,415.622,483.84
Camarilla2,262.502,274.172,285.832,297.502,309.172,320.842,332.50
Woodie2,106.582,163.352,233.862,290.632,361.142,417.912,488.42
Fibonacci2,161.062,209.682,239.722,288.342,336.962,367.002,415.62

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): 57.17
MACD (12,26,9): 4.0500
Directional Movement: 2.80
AROON (14): 57.15
DEMA (21): 2,298.45
Parabolic SAR (0,02-0,02-0,2): 2,306.57
Elder Ray (13): 1.27
Super Trend (3,10): 2,286.30
Zig ZAG (10): 2,297.87
VORTEX (21): 1.1600
Stochastique (14,3,5): 56.54
TEMA (21): 2,298.71
Williams %R (14): -42.37
Chande Momentum Oscillator (20): 12.20
Repulse (5,40,3): 0.0100
ROCnROLL: 1
TRIX (15,9): 0.0300
Courbe Coppock: 0.92
MA7: 2,285.19
MA20: 2,268.45
MA50: 2,295.91
MA100: 2,302.07
MAexp7: 2,295.80
MAexp20: 2,292.94
MAexp50: 2,285.21
MAexp100: 2,277.95
Price / MA7: +0.45%
Price / MA20: +1.19%
Price / MA50: -0.02%
Price / MA100: -0.29%
Price / MAexp7: -0.02%
Price / MAexp20: +0.11%
Price / MAexp50: +0.44%
Price / MAexp100: +0.76%

Quotes : - 15 min delayed data - NASDAQ EU Indices

This member declared not having a position on this financial instrument or a related financial instrument.

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