EDP RENOVAVEIS - 1H - Technical analysis published on 06/18/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
44%
17%
My opinion
Bearish under 13.88 EUR
My targets
13.11 EUR (-2.74%)
12.61 EUR (-6.45%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on EDP RENOVAVEIS as long as the price remains well below 13.88 EUR. The sellers' bearish objective is set at 13.11 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 12.61 EUR. In case of crossing, the next objective would be the support located at 12.00 EUR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EDP RENOVAVEIS rating 13.48 EUR. The price registered an increase of +0.67% on the session with the lowest point at 13.34 EUR and the highest point at 13.52 EUR. The deviation from the price is +1.05% for the low point and -0.30% for the high point.13.34
13.52
13.48
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EDP RENOVAVEIS indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 12.61 | 13.11 | 13.44 | 13.48 | 13.88 | 14.21 | 15.04 |
| Change (%) | -6.45% | -2.74% | -0.30% | - | +2.97% | +5.42% | +11.57% |
| Change | -0.87 | -0.37 | -0.04 | - | +0.40 | +0.73 | +1.56 |
| Level | Intermediate | Minor | 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 | 12.50 | 12.88 | 13.14 | 13.52 | 13.78 | 14.16 | 14.42 |
| Camarilla | 13.21 | 13.27 | 13.33 | 13.39 | 13.45 | 13.51 | 13.57 |
| Woodie | 12.43 | 12.85 | 13.07 | 13.49 | 13.71 | 14.13 | 14.35 |
| Fibonacci | 12.88 | 13.13 | 13.28 | 13.52 | 13.77 | 13.92 | 14.16 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.37 | 12.91 | 13.33 | 13.87 | 14.29 | 14.83 | 15.25 |
| Camarilla | 13.50 | 13.58 | 13.67 | 13.76 | 13.85 | 13.94 | 14.02 |
| Woodie | 12.32 | 12.88 | 13.28 | 13.84 | 14.24 | 14.80 | 15.20 |
| Fibonacci | 12.91 | 13.27 | 13.50 | 13.87 | 14.23 | 14.46 | 14.83 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.85 | 11.85 | 13.29 | 14.29 | 15.73 | 16.73 | 18.17 |
| Camarilla | 14.05 | 14.27 | 14.50 | 14.72 | 14.94 | 15.17 | 15.39 |
| Woodie | 11.06 | 11.96 | 13.50 | 14.40 | 15.94 | 16.84 | 18.38 |
| Fibonacci | 11.85 | 12.79 | 13.36 | 14.29 | 15.23 | 15.80 | 16.73 |
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): | 38.13 | |
| MACD (12,26,9): | -0.1400 | |
| Directional Movement: | -9.48 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 13.46 | |
| Parabolic SAR (0,02-0,02-0,2): | 13.84 | |
| Elder Ray (13): | -0.13 | |
| Super Trend (3,10): | 13.79 | |
| Zig ZAG (10): | 13.49 | |
| VORTEX (21): | 0.8400 | |
| Stochastique (14,3,5): | 19.73 | |
| TEMA (21): | 13.43 | |
| Williams %R (14): | -68.75 | |
| Chande Momentum Oscillator (20): | -0.29 | |
| Repulse (5,40,3): | 0.5200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1200 | |
| Courbe Coppock: | 3.48 |
| MA7: | 13.79 | |
| MA20: | 14.38 | |
| MA50: | 13.84 | |
| MA100: | 13.68 | |
| MAexp7: | 13.49 | |
| MAexp20: | 13.63 | |
| MAexp50: | 13.88 | |
| MAexp100: | 14.14 | |
| Price / MA7: | -2.25% | |
| Price / MA20: | -6.26% | |
| Price / MA50: | -2.60% | |
| Price / MA100: | -1.46% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | -1.10% | |
| Price / MAexp50: | -2.88% | |
| Price / MAexp100: | -4.67% |
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:
- EDPR NA Distributed Generation Acquires Renewable Properties’ Community Solar Portfolio in Illinois
- EDP Renewables Introduces its Arkansas Solar Park in Mississippi County
- 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
This member declared not having a position on this financial instrument or a related financial instrument.
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