MILLICOM INTERNATIONAL CELLULAR S.A. - Daily - Technical analysis published on 10/10/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 49.06 USD
My targets
44.80 USD (-0.54%)
41.32 USD (-8.25%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on MILLICOM INTERNATIONAL CELLULAR S.A. as long as the price remains well below 49.06 USD. The sellers” bearish objective is set at 44.80 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 41.32 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
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
7.7
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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
The MILLICOM INTERNATIONAL CELLULAR S.A. price is 45.04 USD. On the day, this instrument gained +1.95% with the lowest point at 44.80 USD and the highest point at 45.37 USD. The deviation from the price is +0.54% for the low point and -0.73% for the high point.44.80
45.37
45.04
The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.
Opening Gap UP
Type : Bullish
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
The Central Volumes scanner detects abnormal volumes on the asset:
Abnormal volumes
Timeframe : 20 days
Technical
Technical analysis of this Daily chart of MILLICOM INTERNATIONAL CELLULAR S.A. indicates that the overall trend is strongly bearish. 92.86% 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 scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is moderate 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
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
R1
R2
R3
Price
| Price | R1 | R2 | R3 | |
|---|---|---|---|---|
| ProTrendLines | 45.04 | 49.06 | 52.97 | 58.61 |
| Change (%) | - | +8.93% | +17.61% | +30.13% |
| Change | - | +4.02 | +7.93 | +13.57 |
| Level | - | Major | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 42.93 | 43.47 | 43.83 | 44.37 | 44.73 | 45.27 | 45.63 |
| Camarilla | 43.93 | 44.02 | 44.10 | 44.18 | 44.26 | 44.35 | 44.43 |
| Woodie | 42.83 | 43.43 | 43.73 | 44.33 | 44.63 | 45.23 | 45.53 |
| Fibonacci | 43.47 | 43.82 | 44.03 | 44.37 | 44.72 | 44.93 | 45.27 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 39.73 | 42.28 | 43.78 | 46.33 | 47.83 | 50.38 | 51.88 |
| Camarilla | 44.16 | 44.53 | 44.90 | 45.27 | 45.64 | 46.01 | 46.38 |
| Woodie | 39.20 | 42.02 | 43.25 | 46.07 | 47.30 | 50.12 | 51.35 |
| Fibonacci | 42.28 | 43.83 | 44.79 | 46.33 | 47.88 | 48.84 | 50.38 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 41.32 | 44.80 | 46.73 | 50.21 | 52.14 | 55.62 | 57.55 |
| Camarilla | 47.18 | 47.68 | 48.17 | 48.67 | 49.17 | 49.66 | 50.16 |
| Woodie | 40.56 | 44.41 | 45.97 | 49.82 | 51.38 | 55.23 | 56.79 |
| Fibonacci | 44.80 | 46.86 | 48.14 | 50.21 | 52.27 | 53.55 | 55.62 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 31.79 | |
| MACD (12,26,9): | -1.6200 | |
| Directional Movement: | -23.92 | |
| AROON (14): | -85.72 | |
| DEMA (21): | 45.96 | |
| Parabolic SAR (0,02-0,02-0,2): | 48.97 | |
| Elder Ray (13): | -1.86 | |
| Super Trend (3,10): | 47.83 | |
| Zig ZAG (10): | 45.04 | |
| VORTEX (21): | 0.6600 | |
| Stochastique (14,3,5): | 7.85 | |
| TEMA (21): | 45.00 | |
| Williams %R (14): | -87.02 | |
| Chande Momentum Oscillator (20): | -4.96 | |
| Repulse (5,40,3): | -1.4700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3000 | |
| Courbe Coppock: | 20.36 |
| MA7: | 45.55 | |
| MA20: | 48.77 | |
| MA50: | 49.75 | |
| MA100: | 52.45 | |
| MAexp7: | 45.77 | |
| MAexp20: | 47.85 | |
| MAexp50: | 49.93 | |
| MAexp100: | 52.37 | |
| Price / MA7: | -1.12% | |
| Price / MA20: | -7.65% | |
| Price / MA50: | -9.47% | |
| Price / MA100: | -14.13% | |
| Price / MAexp7: | -1.59% | |
| Price / MAexp20: | -5.87% | |
| Price / MAexp50: | -9.79% | |
| Price / MAexp100: | -14.00% |
This member declared not having a position on this financial instrument or a related financial instrument.
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