Londinia Opportunities Analyses - 02/01/2023 (GMT) MERSEN - 1H

MERSEN
- EUR (-)
- 15 min delayed data - Euronext Paris
Type: Stocks
Ticker: MRN
ISIN: FR0000039620

I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
  • Europe Stocks
  • Timeframe : 1H
  • - Analysis generated on
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 40.70 EUR
My targets
41.45 EUR (+0.97%)
44.25 EUR (+7.80%)
My analysis
The bullish trend is currently very strong on MERSEN. As long as the price remains above the support at 40.70 EUR, you could try to benefit from the boom. The first bullish objective is located at 41.45 EUR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 44.25 EUR as an objective. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.4

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Additional analysis

Quotes

The MERSEN rating is 41.05 EUR. On the day, this instrument gained +0.98% and was between 40.85 EUR and 41.85 EUR. This implies that the price is at +0.49% from its lowest and at -1.91% from its highest.

40.85
41.85
41.05

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.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The study of the highest / lowest by the Central Records scanner shows the following results:

Central Records

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly


New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly


New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of MERSEN indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

The probability of a further increase is high given the direction of the technical indicators.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Central Indicators

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly



Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.


ProTrendLines
S3
S2
S1
R1
R2
Price


S3S2S1PriceR1R2
ProTrendLines 40.05 40.70 41.00 41.05 41.45 44.25
Change (%) -2.44% -0.85% -0.12% - +0.97% +7.80%
Change -1.00 -0.35 -0.05 - +0.40 +3.20
Level Minor Minor Major - Minor 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
Standard39.1839.7240.1840.7241.1841.7242.18
Camarilla40.3840.4740.5640.6540.7440.8340.93
Woodie39.1539.7040.1540.7041.1541.7042.15
Fibonacci39.7240.1040.3440.7241.1041.3441.72


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard36.5837.7739.0840.2741.5842.7744.08
Camarilla39.7139.9440.1740.4040.6340.8641.09
Woodie36.6537.8039.1540.3041.6542.8044.15
Fibonacci37.7738.7239.3140.2741.2241.8142.77


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard34.9236.3838.5239.9842.1243.5845.72
Camarilla39.6639.9940.3240.6540.9841.3141.64
Woodie35.2536.5538.8540.1542.4543.7546.05
Fibonacci36.3837.7638.6139.9841.3642.2143.58

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): 61.30
MACD (12,26,9): 0.2300
Directional Movement: 25.84
AROON (14): 78.57
DEMA (21): 40.95
Parabolic SAR (0,02-0,02-0,2): 40.19
Elder Ray (13): 0.28
Super Trend (3,10): 40.25
Zig ZAG (10): 41.00
VORTEX (21): 1.0200
Stochastique (14,3,5): 51.85
TEMA (21): 41.00
Williams %R (14): -44.44
Chande Momentum Oscillator (20): 0.90
Repulse (5,40,3): -0.9800
ROCnROLL: 1
TRIX (15,9): 0.0800
Courbe Coppock: 3.32
MA7: 40.04
MA20: 39.79
MA50: 38.37
MA100: 34.63
MAexp7: 40.89
MAexp20: 40.65
MAexp50: 40.31
MAexp100: 40.03
Price / MA7: +2.52%
Price / MA20: +3.17%
Price / MA50: +6.98%
Price / MA100: +18.54%
Price / MAexp7: +0.39%
Price / MAexp20: +0.98%
Price / MAexp50: +1.84%
Price / MAexp100: +2.55%

Quotes : - 15 min delayed data - Euronext Paris