SAIPEM - Daily - Technical analysis published on 12/13/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 1.4210 EUR
My targets
1.3603 EUR (-1.64%)
1.2473 EUR (-9.81%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SAIPEM as long as the price remains well below 1.4210 EUR. The sellers' bearish objective is set at 1.3603 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1.2473 EUR. In case of crossing, the next objective would be the support located at 1.1625 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 confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
6.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SAIPEM rating 1.3830 EUR. The price registered an increase of +0.88% on the session and was between 1.3670 EUR and 1.3865 EUR. This implies that the price is at +1.17% from its lowest and at -0.25% from its highest.1.3670
1.3865
1.3830
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.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of SAIPEM in Daily shows a overall strongly bearish trend. 82.14% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are bearish. There is still some doubt about the decline in the price.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
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:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.1625 | 1.2473 | 1.3603 | 1.3830 | 1.4210 | 1.4979 | 1.5402 |
| Change (%) | -15.94% | -9.81% | -1.64% | - | +2.75% | +8.31% | +11.37% |
| Change | -0.2205 | -0.1357 | -0.0227 | - | +0.0380 | +0.1149 | +0.1572 |
| Level | Minor | Minor | Major | - | Intermediate | Intermediate | Minor |
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 | 1.3030 | 1.3370 | 1.3540 | 1.3880 | 1.4050 | 1.4390 | 1.4560 |
| Camarilla | 1.3570 | 1.3617 | 1.3663 | 1.3710 | 1.3757 | 1.3804 | 1.3850 |
| Woodie | 1.2945 | 1.3328 | 1.3455 | 1.3838 | 1.3965 | 1.4348 | 1.4475 |
| Fibonacci | 1.3370 | 1.3565 | 1.3685 | 1.3880 | 1.4075 | 1.4195 | 1.4390 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2500 | 1.3240 | 1.3625 | 1.4365 | 1.4750 | 1.5490 | 1.5875 |
| Camarilla | 1.3701 | 1.3804 | 1.3907 | 1.4010 | 1.4113 | 1.4216 | 1.4319 |
| Woodie | 1.2323 | 1.3151 | 1.3448 | 1.4276 | 1.4573 | 1.5401 | 1.5698 |
| Fibonacci | 1.3240 | 1.3670 | 1.3935 | 1.4365 | 1.4795 | 1.5060 | 1.5490 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2653 | 1.3257 | 1.3983 | 1.4587 | 1.5313 | 1.5917 | 1.6643 |
| Camarilla | 1.4344 | 1.4466 | 1.4588 | 1.4710 | 1.4832 | 1.4954 | 1.5076 |
| Woodie | 1.2715 | 1.3288 | 1.4045 | 1.4618 | 1.5375 | 1.5948 | 1.6705 |
| Fibonacci | 1.3257 | 1.3765 | 1.4079 | 1.4587 | 1.5095 | 1.5409 | 1.5917 |
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): | 42.09 | |
| MACD (12,26,9): | -0.0142 | |
| Directional Movement: | -9.4658 | |
| AROON (14): | -42.8571 | |
| DEMA (21): | 1.4164 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.4940 | |
| Elder Ray (13): | -0.0467 | |
| Super Trend (3,10): | 1.5042 | |
| Zig ZAG (10): | 1.3835 | |
| VORTEX (21): | 0.8863 | |
| Stochastique (14,3,5): | 7.66 | |
| TEMA (21): | 1.4070 | |
| Williams %R (14): | -89.20 | |
| Chande Momentum Oscillator (20): | -0.0580 | |
| Repulse (5,40,3): | -3.9453 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0419 | |
| Courbe Coppock: | 4.37 |
| MA7: | 1.4169 | |
| MA20: | 1.4399 | |
| MA50: | 1.4492 | |
| MA100: | 1.4679 | |
| MAexp7: | 1.4077 | |
| MAexp20: | 1.4315 | |
| MAexp50: | 1.4454 | |
| MAexp100: | 1.4403 | |
| Price / MA7: | -2.39% | |
| Price / MA20: | -3.95% | |
| Price / MA50: | -4.57% | |
| Price / MA100: | -5.78% | |
| Price / MAexp7: | -1.75% | |
| Price / MAexp20: | -3.39% | |
| Price / MAexp50: | -4.32% | |
| Price / MAexp100: | -3.98% |
Quotes :
-
15 min delayed data
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Italy Stocks
News
The last news published on SAIPEM at the time of the generation of this analysis was as follows:
SaipemThis 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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