EDP RENOVAVEIS - Daily - Technical analysis published on 05/02/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 13.88 EUR
My targets
12.60 EUR (-4.04%)
12.00 EUR (-8.61%)
My analysis
The basic trend is bearish on EDP RENOVAVEIS and in the short term, the price is trying to rebound. For the time being, this is only a technical rebound and the basic trend is not threatened. To have the rebound confirmed, it would have at least to go back above the 13.88 EUR. Buyers would then use the next resistance located at 14.95 EUR as an objective. Crossing it would then enable buyers to target 16.71 EUR. If there is a return to below the support located at 12.60 EUR, this would be a sign of a reversal in the basic bearish trend. The next bearish objectives would be 12.00 EUR and 8.73 EUR by extension.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
0
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Additional analysis
Quotes
The EDP RENOVAVEIS price is 13.13 EUR. The price registered an increase of +2.02% on the session and was traded between 12.86 EUR and 13.18 EUR over the period. The price is currently at +2.10% from its lowest and -0.38% from its highest.12.86
13.18
13.13
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of EDP RENOVAVEIS in Daily shows an overall bearish trend. 67.86% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently being given by short-term moving averages indicate that this bearish trend may be slowing down. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : Daily
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8.73 | 12.00 | 12.60 | 13.13 | 13.88 | 16.71 | 17.71 |
| Change (%) | -33.51% | -8.61% | -4.04% | - | +5.71% | +27.27% | +34.88% |
| Change | -4.40 | -1.13 | -0.53 | - | +0.75 | +3.58 | +4.58 |
| Level | Intermediate | Major | Major | - | Major | Major | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.26 | 12.50 | 12.68 | 12.92 | 13.10 | 13.34 | 13.52 |
| Camarilla | 12.76 | 12.79 | 12.83 | 12.87 | 12.91 | 12.95 | 12.99 |
| Woodie | 12.24 | 12.49 | 12.66 | 12.91 | 13.08 | 13.33 | 13.50 |
| Fibonacci | 12.50 | 12.66 | 12.76 | 12.92 | 13.08 | 13.18 | 13.34 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.94 | 12.21 | 12.53 | 12.80 | 13.12 | 13.39 | 13.71 |
| Camarilla | 12.69 | 12.74 | 12.80 | 12.85 | 12.90 | 12.96 | 13.01 |
| Woodie | 11.97 | 12.22 | 12.56 | 12.81 | 13.15 | 13.40 | 13.74 |
| Fibonacci | 12.21 | 12.44 | 12.58 | 12.80 | 13.03 | 13.17 | 13.39 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.63 | 11.27 | 12.07 | 12.71 | 13.51 | 14.15 | 14.95 |
| Camarilla | 12.47 | 12.61 | 12.74 | 12.87 | 13.00 | 13.13 | 13.27 |
| Woodie | 10.71 | 11.31 | 12.15 | 12.75 | 13.59 | 14.19 | 15.03 |
| Fibonacci | 11.27 | 11.82 | 12.16 | 12.71 | 13.26 | 13.60 | 14.15 |
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): | 53.09 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | 0.05 | |
| AROON (14): | 7.14 | |
| DEMA (21): | 12.76 | |
| Parabolic SAR (0,02-0,02-0,2): | 12.65 | |
| Elder Ray (13): | 0.12 | |
| Super Trend (3,10): | 13.34 | |
| Zig ZAG (10): | 12.98 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 64.29 | |
| TEMA (21): | 12.97 | |
| Williams %R (14): | -37.93 | |
| Chande Momentum Oscillator (20): | 0.27 | |
| Repulse (5,40,3): | 0.5600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0800 | |
| Courbe Coppock: | 5.38 |
| MA7: | 12.87 | |
| MA20: | 12.71 | |
| MA50: | 12.97 | |
| MA100: | 14.60 | |
| MAexp7: | 12.92 | |
| MAexp20: | 12.83 | |
| MAexp50: | 13.22 | |
| MAexp100: | 14.06 | |
| Price / MA7: | +2.02% | |
| Price / MA20: | +3.30% | |
| Price / MA50: | +1.23% | |
| Price / MA100: | -10.07% | |
| Price / MAexp7: | +1.63% | |
| Price / MAexp20: | +2.34% | |
| Price / MAexp50: | -0.68% | |
| Price / MAexp100: | -6.61% |
Quotes :
-
15 min delayed data
-
Euronext Lisbonne
News
The latest news and videos published on EDP RENOVAVEIS at the time of the analysis were as follows:
- EDP Renewables North America Announces Operations Commencement of Sharp Hills Wind Farm in Alberta, Canada
- EDP Renewables North America Launches the Close the Loop Program
- EDP Renewables net profit increases to 467 million euros in the first nine months of 2023
- EDPR NA Distributed Generation Launches 23 MW Solar Plus 60 MWh Storage Project for Mohave Electric Cooperative
- EDP Renewables and NIPSCO Enter Into Long-Term Agreement for the 198-Megawatt Carpenter 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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