CORREA

- EUR (-)

- 15 min delayed data - Spain Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	NEA
ISIN:	ES0166300212

CORREA - Daily - Technical analysis published on 08/09/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Slightly bullish

Technical indicators

17%

56%

28%

My opinion

Bearish under 5.95 EUR

My targets

5.45 EUR (-4.39%)

5.17 EUR (-9.30%)

My analysis

The strong short-term decline in CORREA calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 5.95 EUR, one could consider taking advantage of the short-term movement. The first bearish objective is located at 5.45 EUR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 5.17 EUR as an objective. Crossing it would then enable sellers to target 4.95 EUR. Be careful, a return to above 5.95 EUR could jeopardize the reversal.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

Force

1.6

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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Additional analysis

Quotes

The CORREA price is 5.70 EUR. The price is lower by -2.56% since the last closing with the lowest point at 5.65 EUR and the highest point at 5.85 EUR. The deviation from the price is +0.88% for the low point and -2.56% for the high point.

5.65

5.85

5.70

Here is a more detailed summary of the historical variations registered by CORREA:

Technical

Technical analysis of this Daily chart of CORREA indicates that the overall trend is slightly bullish. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 10 technical indicators on 18 studied are currently bearish. The Central Indicators scanner found no further results concerning independent technical indicators.

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	4.95	5.17	5.45	5.70	5.75	5.95
Change (%)	-13.16%	-9.30%	-4.39%	-	+0.88%	+4.39%
Change	-0.75	-0.53	-0.25	-	+0.05	+0.25
Level	Intermediate	Minor	Major	-	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	5.85	5.85	5.85	5.85	5.85	5.85	5.85
Camarilla	5.85	5.85	5.85	5.85	5.85	5.85	5.85
Woodie	5.85	5.85	5.85	5.85	5.85	5.85	5.85
Fibonacci	5.85	5.85	5.85	5.85	5.85	5.85	5.85

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	5.65	5.70	5.75	5.80	5.85	5.90	5.95
Camarilla	5.77	5.78	5.79	5.80	5.81	5.82	5.83
Woodie	5.65	5.70	5.75	5.80	5.85	5.90	5.95
Fibonacci	5.70	5.74	5.76	5.80	5.84	5.86	5.90

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	4.92	5.23	5.52	5.83	6.12	6.43	6.72
Camarilla	5.64	5.69	5.75	5.80	5.86	5.91	5.97
Woodie	4.90	5.23	5.50	5.83	6.10	6.43	6.70
Fibonacci	5.23	5.46	5.60	5.83	6.06	6.20	6.43

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):	40.71
MACD (12,26,9):	0.0000
Directional Movement:	-11.22
AROON (14):	-7.15
DEMA (21):	5.85
Parabolic SAR (0,02-0,02-0,2):	6.03
Elder Ray (13):	-0.08
Super Trend (3,10):	5.65
Zig ZAG (10):	5.70
VORTEX (21):	0.9200
Stochastique (14,3,5):	38.89
TEMA (21):	5.81
Williams %R (14):	-75.00
Chande Momentum Oscillator (20):	-0.15
Repulse (5,40,3):	-1.2600
ROCnROLL:	2
TRIX (15,9):	0.0700
Courbe Coppock:	4.04

MA7:	5.80
MA20:	5.89
MA50:	5.78
MA100:	5.67
MAexp7:	5.81
MAexp20:	5.84
MAexp50:	5.78
MAexp100:	5.63
Price / MA7:	-1.72%
Price / MA20:	-3.23%
Price / MA50:	-1.38%
Price / MA100:	+0.53%
Price / MAexp7:	-1.89%
Price / MAexp20:	-2.40%
Price / MAexp50:	-1.38%
Price / MAexp100:	+1.24%

Quotes : - 15 min delayed data - Spain Stocks

This member declared not having a position on this financial instrument or a related financial instrument.

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Londinia AI

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