WEIBO CORP. - 1H - Technical analysis published on 07/23/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
39%
33%
28%
My opinion
Bearish under 40.94 USD
My targets
39.50 USD (-0.50%)
20.41 USD (-48.59%)
My analysis
WEIBO CORP. 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 40.94 USD. The next support located at 39.50 USD 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 20.41 USD. 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.
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.
This analysis was given by Bastien Huneau. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
WEIBO CORP. rating 39.70 USD. The price is lower by -1.71% since the last closing and was between 39.01 USD and 40.54 USD. This implies that the price is at +1.77% from its lowest and at -2.07% from its highest.39.01
40.54
39.70
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of WEIBO CORP. in 1H shows a overall strongly bearish trend. 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 20.41 | 39.50 | 39.70 | 40.94 | 42.98 | 44.42 |
| Change (%) | -48.59% | -0.50% | - | +3.12% | +8.26% | +11.89% |
| Change | -19.29 | -0.20 | - | +1.24 | +3.28 | +4.72 |
| Level | Intermediate | Intermediate | - | Major | Minor | 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 | 38.52 | 39.12 | 39.76 | 40.36 | 41.00 | 41.60 | 42.24 |
| Camarilla | 40.05 | 40.16 | 40.28 | 40.39 | 40.50 | 40.62 | 40.73 |
| Woodie | 38.53 | 39.13 | 39.77 | 40.37 | 41.01 | 41.61 | 42.25 |
| Fibonacci | 39.12 | 39.60 | 39.89 | 40.36 | 40.84 | 41.13 | 41.60 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 34.75 | 37.12 | 38.76 | 41.13 | 42.77 | 45.14 | 46.78 |
| Camarilla | 39.29 | 39.66 | 40.02 | 40.39 | 40.76 | 41.13 | 41.49 |
| Woodie | 34.38 | 36.94 | 38.39 | 40.95 | 42.40 | 44.96 | 46.41 |
| Fibonacci | 37.12 | 38.66 | 39.60 | 41.13 | 42.67 | 43.61 | 45.14 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 35.70 | 38.00 | 40.78 | 43.08 | 45.86 | 48.16 | 50.94 |
| Camarilla | 42.15 | 42.62 | 43.08 | 43.55 | 44.02 | 44.48 | 44.95 |
| Woodie | 35.93 | 38.12 | 41.01 | 43.20 | 46.09 | 48.28 | 51.17 |
| Fibonacci | 38.00 | 39.94 | 41.14 | 43.08 | 45.02 | 46.22 | 48.16 |
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): | 39.33 | |
| MACD (12,26,9): | -0.4700 | |
| Directional Movement: | -14.31 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 39.46 | |
| Parabolic SAR (0,02-0,02-0,2): | 40.52 | |
| Elder Ray (13): | -0.28 | |
| Super Trend (3,10): | 40.53 | |
| Zig ZAG (10): | 39.70 | |
| VORTEX (21): | 0.8400 | |
| Stochastique (14,3,5): | 23.64 | |
| TEMA (21): | 39.42 | |
| Williams %R (14): | -64.80 | |
| Chande Momentum Oscillator (20): | -0.71 | |
| Repulse (5,40,3): | 0.6100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1700 | |
| Courbe Coppock: | 2.03 |
| MA7: | 41.10 | |
| MA20: | 42.45 | |
| MA50: | 44.96 | |
| MA100: | 55.60 | |
| MAexp7: | 39.64 | |
| MAexp20: | 40.10 | |
| MAexp50: | 40.95 | |
| MAexp100: | 41.69 | |
| Price / MA7: | -3.41% | |
| Price / MA20: | -6.48% | |
| Price / MA50: | -11.70% | |
| Price / MA100: | -28.60% | |
| Price / MAexp7: | +0.15% | |
| Price / MAexp20: | -1.00% | |
| Price / MAexp50: | -3.05% | |
| Price / MAexp100: | -4.77% |
News
The latest news and videos published on WEIBO CORP. at the time of the analysis were as follows:
- Weibo Announces Pricing of US$800 Million Notes Offering
- Weibo Announces Proposed Debt Offering
- Weibo Reports First Quarter 2019 Unaudited Financial Results
- Weibo Corporation to Report First Quarter 2019 Financial Results on May 23, 2019
- Weibo Files its Annual Report on Form 20-F
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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