EDP RENOVAVEIS - 1H - Technical analysis published on 12/23/2024 (GMT)
- 128
- 0
- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bearish
Technical indicators
72%
0%
28%
My opinion
Neutral between 9.350 EUR and 9.926 EUR
My targets
-
My analysis
The current short-term bullish thrust is in contrast to the bearish trend. EDP RENOVAVEIS is apparently trying to reverse the trend. The return to a neutral and then bullish trend should not be long in coming if the current rebound continues. What is currently happening on EDP RENOVAVEIS essentials for the price to rebound like this? In such a situation, it would be possible to stay away from EDP RENOVAVEIS or not try to counterbalance this current rebound in the short term. If there is a purchase, the buyers could use the resistance located at 9.926 EUR as an objective. Buyers would then use the next resistance located at 10.260 EUR as an objective. Crossing it would then enable buyers to target 10.880 EUR. Attention should be paid to the price reaction at the start of the resistance as trend traders may consider resuming sales if the basic trend has not been able to ease or if the short term has itself become excessive.
In the very short term, despite the neutral opinion of this analysis, technical indicators are bullish and could soon allow change to a bullish sentiment.
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Additional analysis
Quotes
The EDP RENOVAVEIS price is 9.740 EUR. The price registered an increase of +2.53% on the session and was traded between 9.520 EUR and 9.755 EUR over the period. The price is currently at +2.31% from its lowest and -0.15% from its highest.9.520
9.755
9.740
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 bearish. 64.29% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages indicate that this trend could quickly be called into question. A phase of indecision or a reversal of the trend could occur. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
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 | 6.892 | 8.730 | 9.350 | 9.740 | 9.926 | 10.260 | 10.880 |
| Change (%) | -29.24% | -10.37% | -4.00% | - | +1.91% | +5.34% | +11.70% |
| Change | -2.848 | -1.010 | -0.390 | - | +0.186 | +0.520 | +1.140 |
| Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.117 | 9.233 | 9.367 | 9.483 | 9.617 | 9.733 | 9.867 |
| Camarilla | 9.431 | 9.454 | 9.477 | 9.500 | 9.523 | 9.546 | 9.569 |
| Woodie | 9.125 | 9.238 | 9.375 | 9.488 | 9.625 | 9.738 | 9.875 |
| Fibonacci | 9.233 | 9.329 | 9.388 | 9.483 | 9.579 | 9.638 | 9.733 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.677 | 9.013 | 9.257 | 9.593 | 9.837 | 10.173 | 10.417 |
| Camarilla | 9.341 | 9.394 | 9.447 | 9.500 | 9.553 | 9.606 | 9.660 |
| Woodie | 8.630 | 8.990 | 9.210 | 9.570 | 9.790 | 10.150 | 10.370 |
| Fibonacci | 9.013 | 9.235 | 9.372 | 9.593 | 9.815 | 9.952 | 10.173 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.583 | 9.047 | 10.063 | 11.527 | 12.543 | 14.007 | 15.023 |
| Camarilla | 10.398 | 10.625 | 10.853 | 11.080 | 11.307 | 11.535 | 11.762 |
| Woodie | 7.360 | 8.935 | 9.840 | 11.415 | 12.320 | 13.895 | 14.800 |
| Fibonacci | 9.047 | 9.994 | 10.579 | 11.527 | 12.474 | 13.059 | 14.007 |
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): | 60.60 | |
| MACD (12,26,9): | -0.0310 | |
| Directional Movement: | 4.499 | |
| AROON (14): | -21.429 | |
| DEMA (21): | 9.547 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.389 | |
| Elder Ray (13): | 0.113 | |
| Super Trend (3,10): | 9.487 | |
| Zig ZAG (10): | 9.740 | |
| VORTEX (21): | 1.0330 | |
| Stochastique (14,3,5): | 96.68 | |
| TEMA (21): | 9.582 | |
| Williams %R (14): | -1.27 | |
| Chande Momentum Oscillator (20): | 0.310 | |
| Repulse (5,40,3): | 1.6380 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1110 | |
| Courbe Coppock: | 3.68 |
| MA7: | 9.747 | |
| MA20: | 10.251 | |
| MA50: | 11.374 | |
| MA100: | 13.064 | |
| MAexp7: | 9.625 | |
| MAexp20: | 9.607 | |
| MAexp50: | 9.723 | |
| MAexp100: | 9.925 | |
| Price / MA7: | -0.07% | |
| Price / MA20: | -4.98% | |
| Price / MA50: | -14.37% | |
| Price / MA100: | -25.44% | |
| Price / MAexp7: | +1.19% | |
| Price / MAexp20: | +1.38% | |
| Price / MAexp50: | +0.17% | |
| Price / MAexp100: | -1.86% |
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 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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