EDP RENOVAVEIS

- EUR (-)

- 15 min delayed data - Euronext Lisbonne

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	EDPR
ISIN:	ES0127797019

EDP RENOVAVEIS - 1H - Technical analysis published on 11/08/2024 (GMT)

Londinia

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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

50%

11%

39%

My opinion

Bearish under 11.450 EUR

My targets

10.860 EUR (-3.21%)

10.040 EUR (-10.52%)

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 11.450 EUR. The next support located at 10.860 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 10.040 EUR. Below this support, sellers could then target 8.730 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 opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.

Force

4.8

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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Additional analysis

Quotes

The EDP RENOVAVEIS price is 11.220 EUR. The price has increased by +2.56% since the last closing with the lowest point at 10.980 EUR and the highest point at 11.230 EUR. The deviation from the price is +2.19% for the low point and -0.09% for the high point.

10.980

11.230

11.220

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by EDP RENOVAVEIS:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

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. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : 1 hour

In fact, only 9 technical indicators out of 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:

RSI indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is under support 3

Type : Neutral

Timeframe : Weekly

Price is back over the pivot point

Type : Bullish

Timeframe : 1 hour

Momentum indicator is back over 0

Type : Bullish

Timeframe : 1 hour

Williams %R indicator is back over -50

Type : Bullish

Timeframe : 1 hour

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:

Near resistance of channel

Type : Bearish

Timeframe : 1 hour

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	6.890	8.730	10.860	11.220	11.450	12.000	12.330
Change (%)	-38.59%	-22.19%	-3.21%	-	+2.05%	+6.95%	+9.89%
Change	-4.330	-2.490	-0.360	-	+0.230	+0.780	+1.110
Level	Minor	Intermediate	Intermediate	-	Minor	Major	Minor

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	10.127	10.493	10.717	11.083	11.307	11.673	11.897
Camarilla	10.778	10.832	10.886	10.940	10.994	11.048	11.102
Woodie	10.055	10.458	10.645	11.048	11.235	11.638	11.825
Fibonacci	10.493	10.719	10.858	11.083	11.309	11.448	11.673

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	11.383	11.857	12.213	12.687	13.043	13.517	13.873
Camarilla	12.342	12.418	12.494	12.570	12.646	12.722	12.798
Woodie	11.325	11.828	12.155	12.658	12.985	13.488	13.815
Fibonacci	11.857	12.174	12.370	12.687	13.004	13.200	13.517

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	7.750	10.040	11.210	13.500	14.670	16.960	18.130
Camarilla	11.429	11.746	12.063	12.380	12.697	13.014	13.332
Woodie	7.190	9.760	10.650	13.220	14.110	16.680	17.570
Fibonacci	10.040	11.362	12.178	13.500	14.822	15.638	16.960

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	36.00
MACD (12,26,9):	-0.3410
Directional Movement:	-15.459
AROON (14):	-7.143
DEMA (21):	10.915
Parabolic SAR (0,02-0,02-0,2):	10.883
Elder Ray (13):	-0.104
Super Trend (3,10):	11.502
Zig ZAG (10):	11.190
VORTEX (21):	0.8110
Stochastique (14,3,5):	31.61
TEMA (21):	10.827
Williams %R (14):	-44.07
Chande Momentum Oscillator (20):	0.110
Repulse (5,40,3):	0.6900
ROCnROLL:	-1
TRIX (15,9):	-0.4650
Courbe Coppock:	9.01

MA7:	11.970
MA20:	12.902
MA50:	14.275
MA100:	14.112
MAexp7:	11.102
MAexp20:	11.380
MAexp50:	11.918
MAexp100:	12.420
Price / MA7:	-6.27%
Price / MA20:	-13.04%
Price / MA50:	-21.40%
Price / MA100:	-20.49%
Price / MAexp7:	+1.06%
Price / MAexp20:	-1.41%
Price / MAexp50:	-5.86%
Price / MAexp100:	-9.66%

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:

This member declared not having a position on this financial instrument or a related financial instrument.

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