BEACON ROOFING SUPPLY INC. - Daily - Technical analysis published on 12/02/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 34.09 USD
My targets
28.21 USD (-4.86%)
23.08 USD (-22.16%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on BEACON ROOFING SUPPLY INC. as long as the price remains well below 34.09 USD. The sellers” bearish objective is set at 28.21 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 23.08 USD. In case of crossing, the next objective would be the support located at 17.70 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
FORCE
0
10
7.3
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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
BEACON ROOFING SUPPLY INC. rating 29.65 USD. On the day, this instrument lost -1.63% and was between 29.60 USD and 30.13 USD. This implies that the price is at +0.17% from its lowest and at -1.59% from its highest.29.60
30.13
29.65
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of BEACON ROOFING SUPPLY INC. in Daily shows a overall strongly bearish trend. The signals given by moving averages are 85.71% bearish. This strong bearish 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 decline is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
MACD indicator is back under 0
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 17.70 | 23.08 | 28.21 | 29.65 | 34.09 | 35.09 | 37.88 |
| Change (%) | -40.30% | -22.16% | -4.86% | - | +14.97% | +18.35% | +27.76% |
| Change | -11.95 | -6.57 | -1.44 | - | +4.44 | +5.44 | +8.23 |
| Level | Minor | Major | Major | - | Major | Major | Minor |
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 | 28.21 | 28.78 | 29.46 | 30.03 | 30.71 | 31.28 | 31.96 |
| Camarilla | 29.80 | 29.91 | 30.03 | 30.14 | 30.26 | 30.37 | 30.48 |
| Woodie | 28.27 | 28.81 | 29.52 | 30.06 | 30.77 | 31.31 | 32.02 |
| Fibonacci | 28.78 | 29.26 | 29.55 | 30.03 | 30.51 | 30.80 | 31.28 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.40 | 32.50 | 33.09 | 34.19 | 34.78 | 35.88 | 36.47 |
| Camarilla | 33.23 | 33.38 | 33.54 | 33.69 | 33.85 | 34.00 | 34.16 |
| Woodie | 31.16 | 32.37 | 32.85 | 34.06 | 34.54 | 35.75 | 36.23 |
| Fibonacci | 32.50 | 33.14 | 33.54 | 34.19 | 34.83 | 35.23 | 35.88 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 25.14 | 27.55 | 29.29 | 31.70 | 33.44 | 35.85 | 37.59 |
| Camarilla | 29.90 | 30.28 | 30.66 | 31.04 | 31.42 | 31.80 | 32.18 |
| Woodie | 24.82 | 27.38 | 28.97 | 31.53 | 33.12 | 35.68 | 37.27 |
| Fibonacci | 27.55 | 29.13 | 30.11 | 31.70 | 33.28 | 34.26 | 35.85 |
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): | 26.93 | |
| MACD (12,26,9): | -0.3600 | |
| Directional Movement: | -19.77 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 32.29 | |
| Parabolic SAR (0,02-0,02-0,2): | 34.76 | |
| Elder Ray (13): | -2.44 | |
| Super Trend (3,10): | 33.22 | |
| Zig ZAG (10): | 29.65 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 13.36 | |
| TEMA (21): | 31.81 | |
| Williams %R (14): | -92.00 | |
| Chande Momentum Oscillator (20): | -3.82 | |
| Repulse (5,40,3): | -4.3200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.1000 | |
| Courbe Coppock: | 5.06 |
| MA7: | 32.20 | |
| MA20: | 33.03 | |
| MA50: | 32.50 | |
| MA100: | 32.94 | |
| MAexp7: | 31.58 | |
| MAexp20: | 32.53 | |
| MAexp50: | 32.68 | |
| MAexp100: | 33.09 | |
| Price / MA7: | -7.92% | |
| Price / MA20: | -10.23% | |
| Price / MA50: | -8.77% | |
| Price / MA100: | -9.99% | |
| Price / MAexp7: | -6.11% | |
| Price / MAexp20: | -8.85% | |
| Price / MAexp50: | -9.27% | |
| Price / MAexp100: | -10.40% |
News
The latest news and videos published on BEACON ROOFING SUPPLY INC. at the time of the analysis were as follows:
- Beacon Roofing Supply Announces Beacon of Hope Contest Finalists
- Beacon Roofing Supply Announces Pricing of $300 Million Senior Secured Notes Offering
- Beacon Roofing Supply Announces $300 Million Senior Secured Notes Offering
- Beacon Roofing Supply Appoints Thomas D. Schmitz as Chief Accounting Officer
- Beacon Roofing Supply Provides Fiscal 2019 Second-Quarter Estimate Reflecting Unfavorable Weather Impact; Full-Year 2019 Adjusted EPS Expected to Meet Lower End of Guidance Range
This member declared not having a position on this financial instrument or a related financial instrument.
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