EDP RENOVAVEIS - 1H - Technical analysis published on 10/11/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 14.34 EUR
My targets
13.83 EUR (-3.02%)
13.05 EUR (-8.49%)
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 14.34 EUR. The next support located at 13.83 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 13.05 EUR. Below this support, sellers could then target 12.00 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, 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
7.5
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Additional analysis
Quotes
The EDP RENOVAVEIS rating is 14.26 EUR. On the day, this instrument lost -0.49% and was traded between 14.15 EUR and 14.39 EUR over the period. The price is currently at +0.78% from its lowest and -0.90% from its highest.14.15
14.39
14.26
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EDP RENOVAVEIS in 1H shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 11 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
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 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 : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 12.00 | 13.05 | 13.83 | 14.26 | 14.34 | 14.74 | 15.07 |
| Change (%) | -15.85% | -8.49% | -3.02% | - | +0.56% | +3.37% | +5.68% |
| Change | -2.26 | -1.21 | -0.43 | - | +0.08 | +0.48 | +0.81 |
| Level | Major | Minor | Major | - | Major | 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 | 13.78 | 14.06 | 14.19 | 14.47 | 14.60 | 14.88 | 15.01 |
| Camarilla | 14.22 | 14.26 | 14.29 | 14.33 | 14.37 | 14.41 | 14.44 |
| Woodie | 13.72 | 14.02 | 14.13 | 14.43 | 14.54 | 14.84 | 14.95 |
| Fibonacci | 14.06 | 14.21 | 14.31 | 14.47 | 14.62 | 14.72 | 14.88 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.60 | 13.48 | 14.02 | 14.90 | 15.44 | 16.32 | 16.86 |
| Camarilla | 14.16 | 14.29 | 14.42 | 14.55 | 14.68 | 14.81 | 14.94 |
| Woodie | 12.42 | 13.40 | 13.84 | 14.82 | 15.26 | 16.24 | 16.68 |
| Fibonacci | 13.48 | 14.03 | 14.36 | 14.90 | 15.45 | 15.78 | 16.32 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.34 | 13.25 | 14.48 | 15.39 | 16.62 | 17.53 | 18.76 |
| Camarilla | 15.12 | 15.32 | 15.51 | 15.71 | 15.91 | 16.10 | 16.30 |
| Woodie | 12.50 | 13.33 | 14.64 | 15.47 | 16.78 | 17.61 | 18.92 |
| Fibonacci | 13.25 | 14.07 | 14.57 | 15.39 | 16.21 | 16.71 | 17.53 |
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): | 32.20 | |
| MACD (12,26,9): | -0.1000 | |
| Directional Movement: | -23.13 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 14.34 | |
| Parabolic SAR (0,02-0,02-0,2): | 14.57 | |
| Elder Ray (13): | -0.18 | |
| Super Trend (3,10): | 14.55 | |
| Zig ZAG (10): | 14.25 | |
| VORTEX (21): | 0.8000 | |
| Stochastique (14,3,5): | 14.12 | |
| TEMA (21): | 14.30 | |
| Williams %R (14): | -83.05 | |
| Chande Momentum Oscillator (20): | -0.32 | |
| Repulse (5,40,3): | -0.5300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 4.30 |
| MA7: | 14.52 | |
| MA20: | 15.12 | |
| MA50: | 14.76 | |
| MA100: | 14.38 | |
| MAexp7: | 14.32 | |
| MAexp20: | 14.46 | |
| MAexp50: | 14.63 | |
| MAexp100: | 14.86 | |
| Price / MA7: | -1.79% | |
| Price / MA20: | -5.69% | |
| Price / MA50: | -3.39% | |
| Price / MA100: | -0.83% | |
| Price / MAexp7: | -0.42% | |
| Price / MAexp20: | -1.38% | |
| Price / MAexp50: | -2.53% | |
| Price / MAexp100: | -4.04% |
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:
- EDP Renewables Announces Promotion of Gabriel Yamal to Executive Vice President
- EDP Renewables, Salt River Project, and Meta Unveil Brittlebush Solar Park in Arizona
- EDP Renewables Cuts Ribbon on Scarlet I Solar Energy Park in Fresno County, CA
- EDPR NA Distributed Generation Acquires Renewable Properties’ Community Solar Portfolio in Illinois
- EDP Renewables Introduces its Arkansas Solar Park in Mississippi 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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