EDP RENOVAVEIS - Daily - Technical analysis published on 05/03/2023 (GMT)
- 113
- 0
- Timeframe : Daily
- - Analysis generated on
- Status : CANCELLED
A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 21.030 EUR
My targets
19.105 EUR (-3.44%)
16.933 EUR (-14.41%)
My analysis
The bearish trend is currently very strong for EDP RENOVAVEIS. As long as the price remains below the resistance at 21.030 EUR, you could try to take advantage of the bearish rally. The first bearish objective is located at 19.105 EUR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 16.933 EUR as an objective. Crossing it would then enable sellers to target 14.403 EUR. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
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
7.1
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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 EDP RENOVAVEIS price is 19.785 EUR. On the day, this instrument gained +0.92% and was between 19.750 EUR and 20.200 EUR. This implies that the price is at +0.18% from its lowest and at -2.05% from its highest.19.750
20.200
19.785
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
A study of price movements over other periods shows the following variations:
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 Daily of this EDP RENOVAVEIS chart shows a sharp bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : Daily
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: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 16.933 | 19.105 | 19.750 | 19.785 | 21.030 | 22.994 | 24.679 |
| Change (%) | -14.41% | -3.44% | -0.18% | - | +6.29% | +16.22% | +24.74% |
| Change | -2.852 | -0.680 | -0.035 | - | +1.245 | +3.209 | +4.894 |
| Level | Major | Major | Intermediate | - | Intermediate | 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 | 18.882 | 19.223 | 19.577 | 19.918 | 20.272 | 20.613 | 20.967 |
| Camarilla | 19.739 | 19.803 | 19.866 | 19.930 | 19.994 | 20.057 | 20.121 |
| Woodie | 18.888 | 19.226 | 19.583 | 19.921 | 20.278 | 20.616 | 20.973 |
| Fibonacci | 19.223 | 19.489 | 19.653 | 19.918 | 20.184 | 20.348 | 20.613 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.068 | 19.407 | 19.783 | 20.122 | 20.498 | 20.837 | 21.213 |
| Camarilla | 19.963 | 20.029 | 20.095 | 20.160 | 20.226 | 20.291 | 20.357 |
| Woodie | 19.088 | 19.416 | 19.803 | 20.131 | 20.518 | 20.846 | 21.233 |
| Fibonacci | 19.407 | 19.680 | 19.849 | 20.122 | 20.395 | 20.564 | 20.837 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.015 | 18.880 | 19.520 | 20.385 | 21.025 | 21.890 | 22.530 |
| Camarilla | 19.746 | 19.884 | 20.022 | 20.160 | 20.298 | 20.436 | 20.574 |
| Woodie | 17.903 | 18.824 | 19.408 | 20.329 | 20.913 | 21.834 | 22.418 |
| Fibonacci | 18.880 | 19.455 | 19.810 | 20.385 | 20.960 | 21.315 | 21.890 |
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): | 40.57 | |
| MACD (12,26,9): | -0.1150 | |
| Directional Movement: | -8.388 | |
| AROON (14): | -92.857 | |
| DEMA (21): | 20.132 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.511 | |
| Elder Ray (13): | -0.190 | |
| Super Trend (3,10): | 19.420 | |
| Zig ZAG (10): | 19.800 | |
| VORTEX (21): | 0.9580 | |
| Stochastique (14,3,5): | 21.97 | |
| TEMA (21): | 19.983 | |
| Williams %R (14): | -85.95 | |
| Chande Momentum Oscillator (20): | -0.905 | |
| Repulse (5,40,3): | -1.3720 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0160 | |
| Courbe Coppock: | 7.43 |
| MA7: | 20.052 | |
| MA20: | 20.418 | |
| MA50: | 20.227 | |
| MA100: | 20.464 | |
| MAexp7: | 20.038 | |
| MAexp20: | 20.235 | |
| MAexp50: | 20.324 | |
| MAexp100: | 20.601 | |
| Price / MA7: | -1.33% | |
| Price / MA20: | -3.10% | |
| Price / MA50: | -2.19% | |
| Price / MA100: | -3.32% | |
| Price / MAexp7: | -1.26% | |
| Price / MAexp20: | -2.22% | |
| Price / MAexp50: | -2.65% | |
| Price / MAexp100: | -3.96% |
Quotes :
-
15 min delayed data
-
Euronext Lisbonne
News
Don't forget to follow the news on EDP RENOVAVEIS. At the time of publication of this analysis, the latest news was as follows:
- UPDATED: Google and EDPR Partner on 500 MW AC Environmental Justice Program, Marking the Largest Corporate Backing of Distributed Solar in the U.S.
- Google and EDPR Partner on 500 MW AC Environmental Justice Program, Marking the Largest Corporate Backing of Distributed Solar in the United States
- EDP Renewables and Cleveland-Cliffs Sign Long-Term Commercial Agreement for a New 200-Megawatt Wind Farm in Indiana
- EDP Renewables Receives Houston Chronicle’s Top Workplaces Award for the Houston Metro Area and Culture Excellence Awards
- Redbed Plains Wind Farm Celebrates Five Years of Renewable Energy Production in Grady County
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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