COMP EN DE MN CEMIG ADS ADS - Daily - Technical analysis published on 12/10/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.
Summary of the analysis
Trends
Court terme:
Bearish
De fond:
Strongly bearish
Technical indicators
61%
11%
28%
My opinion
Bearish under 3.09 USD
My targets
2.92 USD (-3.31%)
2.61 USD (-13.58%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on COMP EN DE MN CEMIG ADS ADS as long as the price remains well below 3.09 USD. The next bearish objective for sellers is set at 2.92 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 2.61 USD. If there is any crossing, the next objective would be the support located at 2.13 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
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
3.4
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COMP EN DE MN CEMIG ADS ADS price is 3.02 USD. The price is lower by -1.95% since the last closing and was traded between 3.01 USD and 3.06 USD over the period. The price is currently at +0.33% from its lowest and -1.31% from its highest.3.01
3.06
3.02
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
Type : Bearish
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 COMP EN DE MN CEMIG ADS ADS in Daily shows a overall strongly bearish trend. The signals given by moving averages are 85.71% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a moderate bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 2.13 | 2.61 | 2.92 | 3.02 | 3.05 | 3.37 | 3.67 |
| Change (%) | -29.47% | -13.58% | -3.31% | - | +0.99% | +11.59% | +21.52% |
| Change | -0.89 | -0.41 | -0.10 | - | +0.03 | +0.35 | +0.65 |
| Level | Minor | Minor | Major | - | Major | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.02 | 3.04 | 3.06 | 3.08 | 3.10 | 3.12 | 3.14 |
| Camarilla | 3.07 | 3.07 | 3.08 | 3.08 | 3.08 | 3.09 | 3.09 |
| Woodie | 3.02 | 3.04 | 3.06 | 3.08 | 3.10 | 3.12 | 3.14 |
| Fibonacci | 3.04 | 3.06 | 3.07 | 3.08 | 3.10 | 3.11 | 3.12 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.88 | 2.93 | 3.00 | 3.05 | 3.12 | 3.17 | 3.24 |
| Camarilla | 3.04 | 3.05 | 3.06 | 3.07 | 3.08 | 3.09 | 3.10 |
| Woodie | 2.89 | 2.94 | 3.01 | 3.06 | 3.13 | 3.18 | 3.25 |
| Fibonacci | 2.93 | 2.98 | 3.00 | 3.05 | 3.10 | 3.12 | 3.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.24 | 2.55 | 2.78 | 3.09 | 3.32 | 3.63 | 3.86 |
| Camarilla | 2.87 | 2.92 | 2.97 | 3.02 | 3.07 | 3.12 | 3.17 |
| Woodie | 2.21 | 2.53 | 2.75 | 3.07 | 3.29 | 3.61 | 3.83 |
| Fibonacci | 2.55 | 2.75 | 2.88 | 3.09 | 3.29 | 3.42 | 3.63 |
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): | 44.79 | |
| MACD (12,26,9): | -0.0400 | |
| Directional Movement: | -6.16 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 2.99 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.92 | |
| Elder Ray (13): | 0.01 | |
| Super Trend (3,10): | 3.12 | |
| Zig ZAG (10): | 3.02 | |
| VORTEX (21): | 0.8600 | |
| Stochastique (14,3,5): | 82.67 | |
| TEMA (21): | 3.01 | |
| Williams %R (14): | -32.00 | |
| Chande Momentum Oscillator (20): | 0.08 | |
| Repulse (5,40,3): | -0.8000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2900 | |
| Courbe Coppock: | 2.91 |
| MA7: | 3.04 | |
| MA20: | 3.00 | |
| MA50: | 3.18 | |
| MA100: | 3.36 | |
| MAexp7: | 3.04 | |
| MAexp20: | 3.05 | |
| MAexp50: | 3.16 | |
| MAexp100: | 3.29 | |
| Price / MA7: | -0.66% | |
| Price / MA20: | +0.67% | |
| Price / MA50: | -5.03% | |
| Price / MA100: | -10.12% | |
| Price / MAexp7: | -0.66% | |
| Price / MAexp20: | -0.98% | |
| Price / MAexp50: | -4.43% | |
| Price / MAexp100: | -8.21% |
This member declared not having a position on this financial instrument or a related financial instrument.
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