OMX COPENHAGEN 20 - Daily - Technical analysis published on 01/26/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
50%
33%
My opinion
Bullish above 1,753.30 DKK
My targets
1,900.17 DKK (+3.98%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 1,753.30 DKK remains possible. It is advisable to trade OMX COPENHAGEN 20 with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 1,753.30 DKK. The next bullish objective for buyers is set at 1,900.17 DKK. A bullish break in this resistance would boost the bullish momentum. PS: if there is a bearish break in the support located at 1,753.30 DKK we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.
Force
0
10
1.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
OMX COPENHAGEN 20 rating 1,827.47 DKK. On the day, this instrument lost -0.02% and was between 1,826.77 DKK and 1,845.73 DKK. This implies that the price is at +0.04% from its lowest and at -0.99% from its highest.1,826.77
1,845.73
1,827.47
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
Here is a more detailed summary of the historical variations registered by OMX COPENHAGEN 20:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of OMX COPENHAGEN 20 in Daily shows an overall bullish trend. The signals given by moving averages are 71.43% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : Daily
The probability of a further decline is low given the direction of the technical indicators.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 1,640.83 | 1,708.45 | 1,817.96 | 1,827.47 | 1,900.17 |
| Change (%) | -10.21% | -6.51% | -0.52% | - | +3.98% |
| Change | -186.64 | -119.02 | -9.51 | - | +72.70 |
| Level | Minor | Intermediate | Major | - | 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 | 1,760.55 | 1,788.01 | 1,807.87 | 1,835.33 | 1,855.19 | 1,882.65 | 1,902.51 |
| Camarilla | 1,814.73 | 1,819.07 | 1,823.40 | 1,827.74 | 1,832.08 | 1,836.42 | 1,840.75 |
| Woodie | 1,756.76 | 1,786.11 | 1,804.08 | 1,833.43 | 1,851.40 | 1,880.75 | 1,898.72 |
| Fibonacci | 1,788.01 | 1,806.08 | 1,817.25 | 1,835.33 | 1,853.40 | 1,864.57 | 1,882.65 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,810.16 | 1,831.42 | 1,849.80 | 1,871.06 | 1,889.44 | 1,910.70 | 1,929.08 |
| Camarilla | 1,857.28 | 1,860.91 | 1,864.55 | 1,868.18 | 1,871.81 | 1,875.45 | 1,879.08 |
| Woodie | 1,808.72 | 1,830.70 | 1,848.36 | 1,870.34 | 1,888.00 | 1,909.98 | 1,927.64 |
| Fibonacci | 1,831.42 | 1,846.56 | 1,855.92 | 1,871.06 | 1,886.20 | 1,895.56 | 1,910.70 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,719.42 | 1,753.30 | 1,794.29 | 1,828.17 | 1,869.16 | 1,903.04 | 1,944.03 |
| Camarilla | 1,814.69 | 1,821.55 | 1,828.42 | 1,835.28 | 1,842.14 | 1,849.01 | 1,855.87 |
| Woodie | 1,722.98 | 1,755.08 | 1,797.85 | 1,829.95 | 1,872.72 | 1,904.82 | 1,947.59 |
| Fibonacci | 1,753.30 | 1,781.90 | 1,799.57 | 1,828.17 | 1,856.77 | 1,874.44 | 1,903.04 |
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): | 46.62 | |
| MACD (12,26,9): | 8.6000 | |
| Directional Movement: | -7.59 | |
| AROON (14): | 21.43 | |
| DEMA (21): | 1,865.14 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,890.78 | |
| Elder Ray (13): | -15.30 | |
| Super Trend (3,10): | 1,816.26 | |
| Zig ZAG (10): | 1,828.87 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 37.45 | |
| TEMA (21): | 1,851.56 | |
| Williams %R (14): | -74.28 | |
| Chande Momentum Oscillator (20): | -8.47 | |
| Repulse (5,40,3): | -2.8200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1200 | |
| Courbe Coppock: | 0.24 |
| MA7: | 1,857.93 | |
| MA20: | 1,857.84 | |
| MA50: | 1,819.38 | |
| MA100: | 1,720.70 | |
| MAexp7: | 1,849.00 | |
| MAexp20: | 1,849.94 | |
| MAexp50: | 1,813.77 | |
| MAexp100: | 1,767.54 | |
| Price / MA7: | -1.64% | |
| Price / MA20: | -1.63% | |
| Price / MA50: | +0.44% | |
| Price / MA100: | +6.21% | |
| Price / MAexp7: | -1.16% | |
| Price / MAexp20: | -1.21% | |
| Price / MAexp50: | +0.76% | |
| Price / MAexp100: | +3.39% |
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.
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