ECONOCOM GROUP - 1H - Technical analysis published on 10/21/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 2.708 EUR
My targets
2.633 EUR (-0.83%)
2.575 EUR (-3.01%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on ECONOCOM GROUP. As long as you are under the resistance located at 2.708 EUR, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 2.633 EUR would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 2.575 EUR as an objective. Crossing it would then enable sellers to target 2.470 EUR. If the resistance 2.708 EUR were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.6
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Additional analysis
Quotes
The ECONOCOM GROUP rating is 2.655 EUR. The price has increased by +5.99% since the last closing and was between 2.540 EUR and 2.655 EUR. This implies that the price is at +4.53% from its lowest and at 0% from its highest.2.540
2.655
2.655
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by ECONOCOM GROUP:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this ECONOCOM GROUP chart shows a bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a moderate bullish signal.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2.470 | 2.575 | 2.633 | 2.655 | 2.708 | 2.754 | 2.814 |
| Change (%) | -6.97% | -3.01% | -0.83% | - | +2.00% | +3.73% | +5.99% |
| Change | -0.185 | -0.080 | -0.022 | - | +0.053 | +0.099 | +0.159 |
| Level | Major | Minor | Major | - | Minor | Major | 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 | 2.463 | 2.502 | 2.578 | 2.617 | 2.693 | 2.732 | 2.808 |
| Camarilla | 2.623 | 2.634 | 2.645 | 2.655 | 2.666 | 2.676 | 2.687 |
| Woodie | 2.483 | 2.511 | 2.598 | 2.626 | 2.713 | 2.741 | 2.828 |
| Fibonacci | 2.502 | 2.546 | 2.573 | 2.617 | 2.661 | 2.688 | 2.732 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.490 | 2.570 | 2.725 | 2.805 | 2.960 | 3.040 | 3.195 |
| Camarilla | 2.815 | 2.837 | 2.859 | 2.880 | 2.902 | 2.923 | 2.945 |
| Woodie | 2.528 | 2.589 | 2.763 | 2.824 | 2.998 | 3.059 | 3.233 |
| Fibonacci | 2.570 | 2.660 | 2.715 | 2.805 | 2.895 | 2.950 | 3.040 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.542 | 1.983 | 2.267 | 2.708 | 2.992 | 3.433 | 3.717 |
| Camarilla | 2.351 | 2.417 | 2.484 | 2.550 | 2.617 | 2.683 | 2.749 |
| Woodie | 1.463 | 1.944 | 2.188 | 2.669 | 2.913 | 3.394 | 3.638 |
| Fibonacci | 1.983 | 2.260 | 2.431 | 2.708 | 2.985 | 3.156 | 3.433 |
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): | 49.29 | |
| MACD (12,26,9): | -0.0440 | |
| Directional Movement: | -4.902 | |
| AROON (14): | -35.714 | |
| DEMA (21): | 2.581 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.493 | |
| Elder Ray (13): | 0.023 | |
| Super Trend (3,10): | 2.672 | |
| Zig ZAG (10): | 2.655 | |
| VORTEX (21): | 0.6930 | |
| Stochastique (14,3,5): | 49.91 | |
| TEMA (21): | 2.560 | |
| Williams %R (14): | -36.54 | |
| Chande Momentum Oscillator (20): | 0.040 | |
| Repulse (5,40,3): | 3.4390 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.2860 | |
| Courbe Coppock: | 11.19 |
| MA7: | 2.695 | |
| MA20: | 2.697 | |
| MA50: | 2.903 | |
| MA100: | 3.094 | |
| MAexp7: | 2.609 | |
| MAexp20: | 2.641 | |
| MAexp50: | 2.697 | |
| MAexp100: | 2.719 | |
| Price / MA7: | -1.48% | |
| Price / MA20: | -1.56% | |
| Price / MA50: | -8.54% | |
| Price / MA100: | -14.19% | |
| Price / MAexp7: | +1.76% | |
| Price / MAexp20: | +0.53% | |
| Price / MAexp50: | -1.56% | |
| Price / MAexp100: | -2.35% |
Quotes :
-
15 min delayed data
-
Euronext Bruxelles
News
The last news published on ECONOCOM GROUP at the time of the generation of this analysis was as follows:
- ECONOCOM : Continued growth momentum: revenue for the first nine months of 2022 shows organic growth of 9.5% to EUR 1,826 million
- ECONOCOM: Publication date of Q3 2022 revenue advanced
- ECONOCOM: Laurent Roudil is leaving the Econocom Group
- ECONOCOM: STRONG GROWTH IN REVENUE AND ROP IN H1 2022
- LENOVO EXPANDS ITS RELATIONSHIP WITH ECONOCOM GROUP FOR ACCELERATED GROWTH IN KEY EUROPEAN MARKETS
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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