EDP RENOVAVEIS - 1H - Technical analysis published on 08/01/2023 (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:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
56%
17%
My opinion
Bearish under 17.512 EUR
My targets
17.200 EUR (-0.61%)
16.710 EUR (-3.44%)
My analysis
EDP RENOVAVEIS is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 17.512 EUR. The next support located at 17.200 EUR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 16.710 EUR. Below this support, sellers could then target 14.214 EUR. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.6
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Additional analysis
Quotes
The EDP RENOVAVEIS price is 17.305 EUR. The price is lower by -0.37% since the last closing with the lowest point at 17.125 EUR and the highest point at 17.480 EUR. The deviation from the price is +1.05% for the low point and -1.00% for the high point.17.125
17.480
17.305
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EDP RENOVAVEIS in 1H shows a overall strongly 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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 3 are neutral and 10 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
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 | 14.214 | 16.710 | 17.200 | 17.305 | 17.512 | 17.915 | 18.340 |
| Change (%) | -17.86% | -3.44% | -0.61% | - | +1.20% | +3.52% | +5.98% |
| Change | -3.091 | -0.595 | -0.105 | - | +0.207 | +0.610 | +1.035 |
| Level | Minor | Major | Major | - | Intermediate | Minor | Intermediate |
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 | 16.880 | 17.110 | 17.240 | 17.470 | 17.600 | 17.830 | 17.960 |
| Camarilla | 17.271 | 17.304 | 17.337 | 17.370 | 17.403 | 17.436 | 17.469 |
| Woodie | 16.830 | 17.085 | 17.190 | 17.445 | 17.550 | 17.805 | 17.910 |
| Fibonacci | 17.110 | 17.248 | 17.333 | 17.470 | 17.608 | 17.693 | 17.830 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.697 | 16.558 | 17.007 | 17.868 | 18.317 | 19.178 | 19.627 |
| Camarilla | 17.095 | 17.215 | 17.335 | 17.455 | 17.575 | 17.695 | 17.815 |
| Woodie | 15.490 | 16.455 | 16.800 | 17.765 | 18.110 | 19.075 | 19.420 |
| Fibonacci | 16.558 | 17.059 | 17.368 | 17.868 | 18.369 | 18.678 | 19.178 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.273 | 16.237 | 16.803 | 17.767 | 18.333 | 19.297 | 19.863 |
| Camarilla | 16.949 | 17.090 | 17.230 | 17.370 | 17.510 | 17.651 | 17.791 |
| Woodie | 15.075 | 16.138 | 16.605 | 17.668 | 18.135 | 19.198 | 19.665 |
| Fibonacci | 16.237 | 16.821 | 17.182 | 17.767 | 18.351 | 18.712 | 19.297 |
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): | 33.12 | |
| MACD (12,26,9): | -0.1590 | |
| Directional Movement: | -12.476 | |
| AROON (14): | -71.429 | |
| DEMA (21): | 17.262 | |
| Parabolic SAR (0,02-0,02-0,2): | 17.427 | |
| Elder Ray (13): | -0.082 | |
| Super Trend (3,10): | 17.630 | |
| Zig ZAG (10): | 17.290 | |
| VORTEX (21): | 0.7930 | |
| Stochastique (14,3,5): | 34.70 | |
| TEMA (21): | 17.190 | |
| Williams %R (14): | -63.74 | |
| Chande Momentum Oscillator (20): | -0.175 | |
| Repulse (5,40,3): | -0.1260 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1380 | |
| Courbe Coppock: | 2.61 |
| MA7: | 17.706 | |
| MA20: | 17.671 | |
| MA50: | 18.466 | |
| MA100: | 19.242 | |
| MAexp7: | 17.326 | |
| MAexp20: | 17.472 | |
| MAexp50: | 17.669 | |
| MAexp100: | 17.772 | |
| Price / MA7: | -2.26% | |
| Price / MA20: | -2.07% | |
| Price / MA50: | -6.29% | |
| Price / MA100: | -10.07% | |
| Price / MAexp7: | -0.12% | |
| Price / MAexp20: | -0.96% | |
| Price / MAexp50: | -2.06% | |
| Price / MAexp100: | -2.63% |
Quotes :
-
15 min delayed data
-
Euronext Lisbonne
News
The last news published on EDP RENOVAVEIS at the time of the generation of this analysis was as follows:
- EDP Renewables and NIPSCO Enter Into Long-Term Agreement for the 198-Megawatt Carpenter Wind Farm in Indiana
- EDP Renewables Honors Indiana Leaders and Community Partners, Donates $100K at Global Wind Day Event
- 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
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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