LOOM NETWORK - LOOM/USD - Daily - Technical analysis published on 02/11/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 0.022944 USD
My targets
0.028668 USD (+13.00%)
0.029886 USD (+17.80%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on LOOM NETWORK - LOOM/USD as long as the price remains well above 0.022944 USD. The buyers” bullish objective is set at 0.028668 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 0.029886 USD. If there is any crossing, the next objective would be the resistance located at 0.033488 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
FORCE
0
10
7.3
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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 LOOM NETWORK - LOOM/USD price is 0.025370 USD. On the day, this instrument gained +1.25% and was between 0.024061 USD and 0.025384 USD. This implies that the price is at +5.44% from its lowest and at -0.06% from its highest.0.024061
0.025384
0.025370
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
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:
Technical
Technical analysis of this Daily chart of LOOM NETWORK - LOOM/USD indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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 resistance of triangle
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.015450 | 0.018401 | 0.022944 | 0.025370 | 0.029886 | 0.033488 | 0.045383 |
| Change (%) | -39.10% | -27.47% | -9.56% | - | +17.80% | +32.00% | +78.88% |
| Change | -0.009920 | -0.006969 | -0.002426 | - | +0.004516 | +0.008118 | +0.020013 |
| Level | Minor | Intermediate | Major | - | 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 | 0.020819 | 0.022065 | 0.023560 | 0.024806 | 0.026301 | 0.027547 | 0.029042 |
| Camarilla | 0.024302 | 0.024554 | 0.024805 | 0.025056 | 0.025307 | 0.025559 | 0.025810 |
| Woodie | 0.020945 | 0.022127 | 0.023686 | 0.024868 | 0.026427 | 0.027609 | 0.029168 |
| Fibonacci | 0.022065 | 0.023112 | 0.023759 | 0.024806 | 0.025853 | 0.026500 | 0.027547 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.009708 | 0.013823 | 0.019188 | 0.023303 | 0.028668 | 0.032783 | 0.038148 |
| Camarilla | 0.021947 | 0.022816 | 0.023685 | 0.024554 | 0.025423 | 0.026292 | 0.027161 |
| Woodie | 0.010334 | 0.014136 | 0.019814 | 0.023616 | 0.029294 | 0.033096 | 0.038774 |
| Fibonacci | 0.013823 | 0.017444 | 0.019681 | 0.023303 | 0.026924 | 0.029161 | 0.032783 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.009875 | 0.012323 | 0.014870 | 0.017318 | 0.019865 | 0.022313 | 0.024860 |
| Camarilla | 0.016042 | 0.016500 | 0.016958 | 0.017416 | 0.017874 | 0.018332 | 0.018790 |
| Woodie | 0.009924 | 0.012348 | 0.014919 | 0.017343 | 0.019914 | 0.022338 | 0.024909 |
| Fibonacci | 0.012323 | 0.014231 | 0.015410 | 0.017318 | 0.019226 | 0.020405 | 0.022313 |
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): | 76.16 | |
| MACD (12,26,9): | 0.0021 | |
| Directional Movement: | 27.205388 | |
| AROON (14): | 57.142856 | |
| DEMA (21): | 0.024136 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.022110 | |
| Elder Ray (13): | 0.001828 | |
| Super Trend (3,10): | 0.019334 | |
| Zig ZAG (10): | 0.025312 | |
| VORTEX (21): | 1.1861 | |
| Stochastique (14,3,5): | 77.08 | |
| TEMA (21): | 0.025656 | |
| Williams %R (14): | -20.17 | |
| Chande Momentum Oscillator (20): | 0.007838 | |
| Repulse (5,40,3): | 8.1394 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 1.2135 | |
| Courbe Coppock: | 77.73 |
| MA7: | 0.024780 | |
| MA20: | 0.020688 | |
| MA50: | 0.018444 | |
| MA100: | 0.019213 | |
| MAexp7: | 0.024278 | |
| MAexp20: | 0.021682 | |
| MAexp50: | 0.019815 | |
| MAexp100: | 0.020967 | |
| Price / MA7: | +2.38% | |
| Price / MA20: | +22.63% | |
| Price / MA50: | +37.55% | |
| Price / MA100: | +32.05% | |
| Price / MAexp7: | +4.50% | |
| Price / MAexp20: | +17.01% | |
| Price / MAexp50: | +28.03% | |
| Price / MAexp100: | +21.00% |
This member declared not having a position on this financial instrument or a related financial instrument.
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