FOMENTO ECONOMICO MEXICANO S.A.B. DE C. - 1H - Technical analysis published on 09/22/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
39%
33%
28%
My opinion
Bearish under 55.83 USD
My targets
53.16 USD (-1.77%)
49.60 USD (-8.35%)
My analysis
The bearish trend is currently very strong for FOMENTO ECONOMICO MEXICANO S.A.B. DE C.. As long as the price remains below the resistance at 55.83 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 53.16 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 49.60 USD as an objective. Crossing it would then enable sellers to target 29.96 USD. 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.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5.9
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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 FOMENTO ECONOMICO MEXICANO S.A.B. DE C. price is 54.12 USD. The price registered a decrease of -0.59% on the session and was between 54.08 USD and 54.55 USD. This implies that the price is at +0.07% from its lowest and at -0.79% from its highest.54.08
54.55
54.12
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this FOMENTO ECONOMICO MEXICANO S.A.B. DE C. chart shows a sharp bearish trend. The signals given by moving averages are 92.86% 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.
In fact, of the 18 technical indicators analysed by Central Analyzer, 7 are bullish, 5 are neutral and 6 are bearish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 29.96 | 49.60 | 53.16 | 54.12 | 55.83 | 57.70 | 59.44 |
| Change (%) | -44.64% | -8.35% | -1.77% | - | +3.16% | +6.61% | +9.83% |
| Change | -24.16 | -4.52 | -0.96 | - | +1.71 | +3.58 | +5.32 |
| Level | Minor | Major | Intermediate | - | 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 | 52.31 | 52.73 | 53.59 | 54.01 | 54.87 | 55.29 | 56.15 |
| Camarilla | 54.09 | 54.21 | 54.32 | 54.44 | 54.56 | 54.68 | 54.79 |
| Woodie | 52.52 | 52.84 | 53.80 | 54.12 | 55.08 | 55.40 | 56.36 |
| Fibonacci | 52.73 | 53.22 | 53.52 | 54.01 | 54.50 | 54.80 | 55.29 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 51.79 | 53.20 | 54.13 | 55.54 | 56.47 | 57.88 | 58.81 |
| Camarilla | 54.41 | 54.62 | 54.84 | 55.05 | 55.27 | 55.48 | 55.69 |
| Woodie | 51.54 | 53.08 | 53.88 | 55.42 | 56.22 | 57.76 | 58.56 |
| Fibonacci | 53.20 | 54.10 | 54.65 | 55.54 | 56.44 | 56.99 | 57.88 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 52.32 | 54.59 | 56.46 | 58.73 | 60.60 | 62.87 | 64.75 |
| Camarilla | 57.19 | 57.57 | 57.95 | 58.33 | 58.71 | 59.09 | 59.47 |
| Woodie | 52.12 | 54.49 | 56.26 | 58.63 | 60.40 | 62.77 | 64.55 |
| Fibonacci | 54.59 | 56.17 | 57.15 | 58.73 | 60.31 | 61.29 | 62.87 |
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): | 41.08 | |
| MACD (12,26,9): | -0.4600 | |
| Directional Movement: | -17.83 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 54.09 | |
| Parabolic SAR (0,02-0,02-0,2): | 53.33 | |
| Elder Ray (13): | -0.21 | |
| Super Trend (3,10): | 55.36 | |
| Zig ZAG (10): | 54.33 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 48.96 | |
| TEMA (21): | 53.93 | |
| Williams %R (14): | -48.10 | |
| Chande Momentum Oscillator (20): | -0.94 | |
| Repulse (5,40,3): | -0.2400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1300 | |
| Courbe Coppock: | 3.76 |
| MA7: | 55.44 | |
| MA20: | 56.81 | |
| MA50: | 58.11 | |
| MA100: | 61.22 | |
| MAexp7: | 54.26 | |
| MAexp20: | 54.70 | |
| MAexp50: | 55.44 | |
| MAexp100: | 56.21 | |
| Price / MA7: | -2.38% | |
| Price / MA20: | -4.74% | |
| Price / MA50: | -6.87% | |
| Price / MA100: | -11.60% | |
| Price / MAexp7: | -0.26% | |
| Price / MAexp20: | -1.06% | |
| Price / MAexp50: | -2.38% | |
| Price / MAexp100: | -3.72% |
Quotes :
2020-09-22 15:09:47
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15 min delayed data
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NYSE Stocks
News
The latest news and videos published on FOMENTO ECONOMICO MEXICANO S.A.B. DE C. at the time of the analysis were as follows:
- FEMSA Announces Successful Re-tap to its Senior Unsecured Notes due 2050
- FEMSA Announces First Quarter 2020 Results
- FEMSA Files 2019 SEC Annual Report
- FEMSA Schedules Conference Call to Discuss First Quarter 2020 Financial Results
- FEMSA Shareholders Approve Ps. 10,360 Million Dividend
This member declared not having a position on this financial instrument or a related financial instrument.
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