PSI20 INDEX - Daily - Technical analysis published on 05/13/2020 (GMT)
- Who voted?
- 314
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
50%
33%
My opinion
Bearish under 4,260.13 EUR
My targets
4,035.94 EUR (-1.42%)
3,791.19 EUR (-7.39%)
My analysis
PSI20 INDEX is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 4,260.13 EUR. The next support located at 4,035.94 EUR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 3,791.19 EUR. Below this support, sellers could then target 3,596.08 EUR. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
FORCE
0
10
6.8
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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
PSI20 INDEX rating 4,093.90 EUR. On the day, this instrument lost -1.40% and was traded between 4,075.55 EUR and 4,103.02 EUR over the period. The price is currently at +0.45% from its lowest and -0.22% from its highest.4,075.55
4,103.02
4,093.90
The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.
Opening Gap DOWN
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 this Daily chart of PSI20 INDEX indicates that the overall trend is strongly bearish. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Downside gap
Type : Bearish
Timeframe : Daily
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 3,596.08 | 4,035.94 | 4,093.90 | 4,260.13 | 4,727.99 | 5,073.91 |
| Change (%) | -12.16% | -1.42% | - | +4.06% | +15.49% | +23.94% |
| Change | -497.82 | -57.96 | - | +166.23 | +634.09 | +980.01 |
| Level | Major | Intermediate | - | Major | 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 | 4,093.02 | 4,119.85 | 4,136.00 | 4,162.83 | 4,178.98 | 4,205.81 | 4,221.96 |
| Camarilla | 4,140.33 | 4,144.27 | 4,148.21 | 4,152.15 | 4,156.09 | 4,160.03 | 4,163.97 |
| Woodie | 4,087.68 | 4,117.18 | 4,130.66 | 4,160.16 | 4,173.64 | 4,203.14 | 4,216.62 |
| Fibonacci | 4,119.85 | 4,136.27 | 4,146.41 | 4,162.83 | 4,179.25 | 4,189.39 | 4,205.81 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,038.10 | 4,093.98 | 4,166.19 | 4,222.07 | 4,294.28 | 4,350.16 | 4,422.37 |
| Camarilla | 4,203.18 | 4,214.92 | 4,226.66 | 4,238.40 | 4,250.14 | 4,261.88 | 4,273.63 |
| Woodie | 4,046.26 | 4,098.06 | 4,174.36 | 4,226.15 | 4,302.45 | 4,354.24 | 4,430.54 |
| Fibonacci | 4,093.98 | 4,142.91 | 4,173.14 | 4,222.07 | 4,271.00 | 4,301.23 | 4,350.16 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,631.83 | 3,791.19 | 4,037.69 | 4,197.05 | 4,443.55 | 4,602.91 | 4,849.41 |
| Camarilla | 4,172.57 | 4,209.77 | 4,246.98 | 4,284.18 | 4,321.38 | 4,358.59 | 4,395.79 |
| Woodie | 3,675.39 | 3,812.98 | 4,081.25 | 4,218.84 | 4,487.11 | 4,624.70 | 4,892.97 |
| Fibonacci | 3,791.19 | 3,946.23 | 4,042.02 | 4,197.05 | 4,352.09 | 4,447.88 | 4,602.91 |
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): | 43.74 | |
| MACD (12,26,9): | 1.6800 | |
| Directional Movement: | -3.68 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 4,164.75 | |
| Parabolic SAR (0,02-0,02-0,2): | 4,352.23 | |
| Elder Ray (13): | -85.01 | |
| Super Trend (3,10): | 4,005.71 | |
| Zig ZAG (10): | 4,086.88 | |
| VORTEX (21): | 0.9300 | |
| Stochastique (14,3,5): | 32.48 | |
| TEMA (21): | 4,233.12 | |
| Williams %R (14): | -93.66 | |
| Chande Momentum Oscillator (20): | -23.73 | |
| Repulse (5,40,3): | -1.1000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 3.13 |
| MA7: | 4,188.21 | |
| MA20: | 4,169.44 | |
| MA50: | 4,127.25 | |
| MA100: | 4,690.05 | |
| MAexp7: | 4,171.07 | |
| MAexp20: | 4,167.58 | |
| MAexp50: | 4,279.03 | |
| MAexp100: | 4,517.80 | |
| Price / MA7: | -2.25% | |
| Price / MA20: | -1.81% | |
| Price / MA50: | -0.81% | |
| Price / MA100: | -12.71% | |
| Price / MAexp7: | -1.85% | |
| Price / MAexp20: | -1.77% | |
| Price / MAexp50: | -4.33% | |
| Price / MAexp100: | -9.38% |
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis PSI20 INDEX - Daily