ERAMET - 15 min. - Technical analysis published on 05/24/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 15 min.
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 89.72 EUR
My targets
87.72 EUR (-0.43%)
86.43 EUR (-1.89%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on ERAMET as long as the price remains well below 89.72 EUR. The sellers' bearish objective is set at 87.72 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 86.43 EUR. In case of crossing, the next objective would be the support located at 84.95 EUR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
4.8
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Additional analysis
Quotes
ERAMET rating 88.10 EUR. On the day, this instrument lost -1.18% and was traded between 87.15 EUR and 88.55 EUR over the period. The price is currently at +1.09% from its lowest and -0.51% from its highest.87.15
88.55
88.10
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 15 min. chart of ERAMET 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 detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 15 minutes
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : 15 minutes
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:
Near resistance of channel
Type : Bearish
Timeframe : 15 minutes
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these signals that could have an impact on the current short-term trend:
Upside gap
Type : Bullish
Timeframe : 15 minutes
Black gravestone / inverted hammer
Type : Bearish
Timeframe : 15 minutes
Bearish doji star
Type : Bearish
Timeframe : 15 minutes
Doji
Type : Neutral
Timeframe : 15 minutes
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 84.95 | 86.80 | 87.53 | 88.10 | 88.99 | 90.23 | 90.97 |
| Change (%) | -3.58% | -1.48% | -0.65% | - | +1.01% | +2.42% | +3.26% |
| Change | -3.15 | -1.30 | -0.57 | - | +0.89 | +2.13 | +2.87 |
| Level | Minor | Minor | Major | - | Intermediate | 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 | 86.43 | 87.72 | 88.43 | 89.72 | 90.43 | 91.72 | 92.43 |
| Camarilla | 88.60 | 88.78 | 88.97 | 89.15 | 89.33 | 89.52 | 89.70 |
| Woodie | 86.15 | 87.58 | 88.15 | 89.58 | 90.15 | 91.58 | 92.15 |
| Fibonacci | 87.72 | 88.48 | 88.95 | 89.72 | 90.48 | 90.95 | 91.72 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 82.32 | 84.58 | 87.97 | 90.23 | 93.62 | 95.88 | 99.27 |
| Camarilla | 89.80 | 90.31 | 90.83 | 91.35 | 91.87 | 92.39 | 92.90 |
| Woodie | 82.88 | 84.86 | 88.53 | 90.51 | 94.18 | 96.16 | 99.83 |
| Fibonacci | 84.58 | 86.74 | 88.08 | 90.23 | 92.39 | 93.73 | 95.88 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 62.88 | 73.97 | 81.03 | 92.12 | 99.18 | 110.27 | 117.33 |
| Camarilla | 83.11 | 84.77 | 86.44 | 88.10 | 89.76 | 91.43 | 93.09 |
| Woodie | 60.88 | 72.96 | 79.03 | 91.11 | 97.18 | 109.26 | 115.33 |
| Fibonacci | 73.97 | 80.90 | 85.18 | 92.12 | 99.05 | 103.33 | 110.27 |
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): | 45.29 | |
| MACD (12,26,9): | -0.3600 | |
| Directional Movement: | -11.70 | |
| AROON (14): | 35.71 | |
| DEMA (21): | 87.81 | |
| Parabolic SAR (0,02-0,02-0,2): | 87.51 | |
| Elder Ray (13): | 0.05 | |
| Super Trend (3,10): | 88.95 | |
| Zig ZAG (10): | 88.10 | |
| VORTEX (21): | 0.8500 | |
| Stochastique (14,3,5): | 58.33 | |
| TEMA (21): | 87.75 | |
| Williams %R (14): | -35.71 | |
| Chande Momentum Oscillator (20): | 0.40 | |
| Repulse (5,40,3): | -0.2200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0800 | |
| Courbe Coppock: | 1.00 |
| MA7: | 89.39 | |
| MA20: | 87.92 | |
| MA50: | 91.89 | |
| MA100: | 94.61 | |
| MAexp7: | 88.04 | |
| MAexp20: | 88.32 | |
| MAexp50: | 89.00 | |
| MAexp100: | 89.47 | |
| Price / MA7: | -1.44% | |
| Price / MA20: | +0.20% | |
| Price / MA50: | -4.12% | |
| Price / MA100: | -6.88% | |
| Price / MAexp7: | +0.07% | |
| Price / MAexp20: | -0.25% | |
| Price / MAexp50: | -1.01% | |
| Price / MAexp100: | -1.53% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
The last news published on ERAMET at the time of the generation of this analysis was as follows:
- Eramet: Approval of resolutions proposed to the Ordinary Shareholders’ General Meeting of 23 May 2023
- Eramet: Results of the tender offer to repurchase its bonds due February 2024
- Eramet accelerates its CSR commitment with the launch of the first audit within the Initiative for Responsible Mining Assurance system
- Eramet: Launch of a tender offer to repurchase its bonds due February 2024 and potential issuance of inaugural sustainability-linked bonds
- Eramet: Q1 2023 turnover of €775m
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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…
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