MICHELIN - 1H - Technical analysis published on 02/28/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
44%
22%
33%
My opinion
Bullish above 33.83 EUR
My targets
35.69 EUR (+4.20%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on MICHELIN as long as the price remains well above 33.83 EUR. The buyers' bullish objective is set at 35.69 EUR. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
6.8
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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 MICHELIN rating is 34.25 EUR. The price registered a decrease of -0.41% on the session and was between 34.24 EUR and 34.44 EUR. This implies that the price is at +0.03% from its lowest and at -0.55% from its highest.34.24
34.44
34.25
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
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 (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of MICHELIN 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
Type : Bullish
Timeframe : 1 hour
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
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 32.61 | 33.31 | 33.83 | 34.25 | 35.69 |
| Change (%) | -4.79% | -2.74% | -1.23% | - | +4.20% |
| Change | -1.64 | -0.94 | -0.42 | - | +1.44 |
| Level | Intermediate | Minor | Intermediate | - | Major |
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 |
|---|---|---|---|---|---|---|---|
| Standard | 33.61 | 33.82 | 34.11 | 34.32 | 34.61 | 34.82 | 35.11 |
| Camarilla | 34.25 | 34.30 | 34.34 | 34.39 | 34.44 | 34.48 | 34.53 |
| Woodie | 33.64 | 33.84 | 34.14 | 34.34 | 34.64 | 34.84 | 35.14 |
| Fibonacci | 33.82 | 34.01 | 34.13 | 34.32 | 34.51 | 34.63 | 34.82 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.95 | 32.40 | 33.28 | 33.73 | 34.61 | 35.06 | 35.94 |
| Camarilla | 33.80 | 33.93 | 34.05 | 34.17 | 34.29 | 34.41 | 34.54 |
| Woodie | 32.18 | 32.51 | 33.51 | 33.84 | 34.84 | 35.17 | 36.17 |
| Fibonacci | 32.40 | 32.91 | 33.22 | 33.73 | 34.24 | 34.55 | 35.06 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 26.87 | 28.47 | 29.64 | 31.24 | 32.41 | 34.01 | 35.18 |
| Camarilla | 30.06 | 30.31 | 30.57 | 30.82 | 31.07 | 31.33 | 31.58 |
| Woodie | 26.67 | 28.36 | 29.44 | 31.13 | 32.21 | 33.90 | 34.98 |
| Fibonacci | 28.47 | 29.53 | 30.18 | 31.24 | 32.30 | 32.95 | 34.01 |
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): | 62.02 | |
| MACD (12,26,9): | 0.1400 | |
| Directional Movement: | 12.27 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 34.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 34.54 | |
| Elder Ray (13): | 0.04 | |
| Super Trend (3,10): | 34.12 | |
| Zig ZAG (10): | 34.28 | |
| VORTEX (21): | 1.1000 | |
| Stochastique (14,3,5): | 57.33 | |
| TEMA (21): | 34.36 | |
| Williams %R (14): | -54.00 | |
| Chande Momentum Oscillator (20): | 0.18 | |
| Repulse (5,40,3): | -0.1900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0600 | |
| Courbe Coppock: | 1.29 |
| MA7: | 33.93 | |
| MA20: | 32.50 | |
| MA50: | 31.90 | |
| MA100: | 30.71 | |
| MAexp7: | 34.30 | |
| MAexp20: | 34.19 | |
| MAexp50: | 33.89 | |
| MAexp100: | 33.38 | |
| Price / MA7: | +0.94% | |
| Price / MA20: | +5.38% | |
| Price / MA50: | +7.37% | |
| Price / MA100: | +11.53% | |
| Price / MAexp7: | -0.15% | |
| Price / MAexp20: | +0.18% | |
| Price / MAexp50: | +1.06% | |
| Price / MAexp100: | +2.61% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
Don't forget to follow the news on MICHELIN. At the time of publication of this analysis, the latest news was as follows:
- Sushi Ginza Onodera’s Restaurant ‘Makiyaki Ginza Onodera’ Awarded Fourth Consecutive One Michelin Star
- Best Michelin, Pirelli, Firestone & Bridgestone Tire Black Friday Deals (2023): Early All-Season, All-Terrain & More Tire Sales Reported by Retail Fuse
- Bridgestone, Firestone, Michelin & Pirelli Tire Early Black Friday Deals (2023) Researched by Consumer Walk
- Black Friday Walmart Tire Deals 2023: Best Early Michelin, Cooper, Pirelli & More Tire Deals Reviewed by The Consumer Post
- Michelin Guide's Nod to Algodon Wine Estates Boosts Argentina's Luxury Real Estate Profile
This member declared not having a position on this financial instrument or a related financial instrument.
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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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