OBSIDIAN ENERGY LTD. - Daily - Technical analysis published on 10/09/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
56%
17%
28%
My opinion
Bullish above 7.89 USD
My targets
8.42 USD (+3.31%)
8.65 USD (+6.13%)
My analysis
The bullish trend is currently very strong on OBSIDIAN ENERGY LTD.. As long as the price remains above the support at 7.89 USD, you could try to benefit from the boom. The first bullish objective is located at 8.42 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 8.65 USD as an objective. Crossing it would then enable buyers to target 10.22 USD. 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.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The OBSIDIAN ENERGY LTD. price is 8.15 USD. The price registered an increase of +5.43% on the session with the lowest point at 7.95 USD and the highest point at 8.19 USD. The deviation from the price is +2.52% for the low point and -0.49% for the high point.7.95
8.19
8.15
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by OBSIDIAN ENERGY LTD.:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this OBSIDIAN ENERGY LTD. chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
In fact, 10 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Daily
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Upside gap
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.03 | 7.62 | 7.89 | 8.15 | 8.42 | 8.65 | 10.22 |
| Change (%) | -13.74% | -6.50% | -3.19% | - | +3.31% | +6.13% | +25.40% |
| Change | -1.12 | -0.53 | -0.26 | - | +0.27 | +0.50 | +2.07 |
| Level | Intermediate | Major | Intermediate | - | Major | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.13 | 7.27 | 7.50 | 7.64 | 7.87 | 8.01 | 8.24 |
| Camarilla | 7.63 | 7.66 | 7.70 | 7.73 | 7.76 | 7.80 | 7.83 |
| Woodie | 7.18 | 7.29 | 7.55 | 7.66 | 7.92 | 8.03 | 8.29 |
| Fibonacci | 7.27 | 7.41 | 7.50 | 7.64 | 7.78 | 7.87 | 8.01 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.27 | 6.78 | 7.26 | 7.77 | 8.25 | 8.76 | 9.24 |
| Camarilla | 7.46 | 7.55 | 7.64 | 7.73 | 7.82 | 7.91 | 8.00 |
| Woodie | 6.25 | 6.77 | 7.24 | 7.76 | 8.23 | 8.75 | 9.22 |
| Fibonacci | 6.78 | 7.16 | 7.40 | 7.77 | 8.15 | 8.39 | 8.76 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.19 | 6.68 | 7.45 | 7.94 | 8.71 | 9.20 | 9.97 |
| Camarilla | 7.87 | 7.99 | 8.11 | 8.22 | 8.34 | 8.45 | 8.57 |
| Woodie | 6.33 | 6.75 | 7.59 | 8.01 | 8.85 | 9.27 | 10.11 |
| Fibonacci | 6.68 | 7.16 | 7.46 | 7.94 | 8.42 | 8.72 | 9.20 |
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): | 59.37 | |
| MACD (12,26,9): | 0.1800 | |
| Directional Movement: | 3.15 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 8.08 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.32 | |
| Elder Ray (13): | 0.18 | |
| Super Trend (3,10): | 8.49 | |
| Zig ZAG (10): | 8.16 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 46.90 | |
| TEMA (21): | 8.02 | |
| Williams %R (14): | -23.89 | |
| Chande Momentum Oscillator (20): | 0.48 | |
| Repulse (5,40,3): | 4.1600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.4800 | |
| Courbe Coppock: | 4.80 |
| MA7: | 7.89 | |
| MA20: | 7.91 | |
| MA50: | 7.33 | |
| MA100: | 6.70 | |
| MAexp7: | 7.91 | |
| MAexp20: | 7.81 | |
| MAexp50: | 7.40 | |
| MAexp100: | 7.05 | |
| Price / MA7: | +3.30% | |
| Price / MA20: | +3.03% | |
| Price / MA50: | +11.19% | |
| Price / MA100: | +21.64% | |
| Price / MAexp7: | +3.03% | |
| Price / MAexp20: | +4.35% | |
| Price / MAexp50: | +10.14% | |
| Price / MAexp100: | +15.60% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
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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