TECDAX30 INDEX - Weekly - Technical analysis published on 10/14/2023 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
67%
11%
My opinion
Bearish under 3,039.48 EUR
My targets
2,813.38 EUR (-4.54%)
2,611.41 EUR (-11.40%)
My analysis
The bearish trend is currently very strong for TECDAX30 INDEX. As long as the price remains below the resistance at 3,039.48 EUR, you could try to take advantage of the bearish rally. The first bearish objective is located at 2,813.38 EUR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 2,611.41 EUR as an objective. Crossing it would then enable sellers to target 2,202.23 EUR. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.8
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This analysis was given by Liongate78. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The TECDAX30 INDEX rating is 2,947.25 EUR. The price is lower by -1.74% over the 5 days with the lowest point at 2,947.25 EUR and the highest point at 3,059.88 EUR. The deviation from the price is 0% for the low point and -3.68% for the high point.2,947.25
3,059.88
2,947.25
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Weekly chart of TECDAX30 INDEX indicates that the overall trend is strongly bearish. 85.71% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Weekly
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Weekly
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 2,202.23 | 2,611.41 | 2,813.38 | 2,947.25 | 3,039.48 | 3,338.57 | 3,583.38 |
| Change (%) | -25.28% | -11.40% | -4.54% | - | +3.13% | +13.28% | +21.58% |
| Change | -745.02 | -335.84 | -133.87 | - | +92.23 | +391.32 | +636.13 |
| Level | Major | Major | Intermediate | - | Major | Major | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 2,838.86 | 2,893.06 | 2,920.15 | 2,974.35 | 3,001.44 | 3,055.64 | 3,082.73 |
| Camarilla | 2,924.90 | 2,932.35 | 2,939.80 | 2,947.25 | 2,954.70 | 2,962.15 | 2,969.61 |
| Woodie | 2,825.32 | 2,886.28 | 2,906.61 | 2,967.57 | 2,987.90 | 3,048.86 | 3,069.19 |
| Fibonacci | 2,893.06 | 2,924.11 | 2,943.29 | 2,974.35 | 3,005.40 | 3,024.58 | 3,055.64 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,840.08 | 2,887.29 | 2,943.38 | 2,990.59 | 3,046.68 | 3,093.89 | 3,149.98 |
| Camarilla | 2,971.06 | 2,980.53 | 2,990.00 | 2,999.47 | 3,008.94 | 3,018.41 | 3,027.88 |
| Woodie | 2,844.52 | 2,889.51 | 2,947.82 | 2,992.81 | 3,051.12 | 3,096.11 | 3,154.42 |
| Fibonacci | 2,887.29 | 2,926.75 | 2,951.13 | 2,990.59 | 3,030.05 | 3,054.43 | 3,093.89 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2,700.94 | 2,830.26 | 2,925.02 | 3,054.34 | 3,149.10 | 3,278.42 | 3,373.18 |
| Camarilla | 2,958.16 | 2,978.70 | 2,999.24 | 3,019.78 | 3,040.32 | 3,060.86 | 3,081.40 |
| Woodie | 2,683.66 | 2,821.62 | 2,907.74 | 3,045.70 | 3,131.82 | 3,269.78 | 3,355.90 |
| Fibonacci | 2,830.26 | 2,915.86 | 2,968.74 | 3,054.34 | 3,139.94 | 3,192.82 | 3,278.42 |
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): | 37.42 | |
| MACD (12,26,9): | -50.8600 | |
| Directional Movement: | -10.08 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 3,056.64 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,252.08 | |
| Elder Ray (13): | -74.83 | |
| Super Trend (3,10): | 3,313.44 | |
| Zig ZAG (10): | 2,947.25 | |
| VORTEX (21): | 0.8700 | |
| Stochastique (14,3,5): | 11.59 | |
| TEMA (21): | 2,999.26 | |
| Williams %R (14): | -96.88 | |
| Chande Momentum Oscillator (20): | -280.23 | |
| Repulse (5,40,3): | -4.4700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1100 | |
| Courbe Coppock: | 10.48 |
| MA7: | 3,001.74 | |
| MA20: | 3,003.49 | |
| MA50: | 3,072.47 | |
| MA100: | 3,138.42 | |
| MAexp7: | 3,032.28 | |
| MAexp20: | 3,109.26 | |
| MAexp50: | 3,144.59 | |
| MAexp100: | 3,170.85 | |
| Price / MA7: | -1.82% | |
| Price / MA20: | -1.87% | |
| Price / MA50: | -4.08% | |
| Price / MA100: | -6.09% | |
| Price / MAexp7: | -2.80% | |
| Price / MAexp20: | -5.21% | |
| Price / MAexp50: | -6.28% | |
| Price / MAexp100: | -7.05% |
Quotes :
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15 min delayed data
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Germany Indices
This member declared not having a position on this financial instrument or a related financial instrument.
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