CHAINLINK - LINK/EUR - Daily - Technical analysis published on 05/22/2020 (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
39%
11%
50%
My opinion
Bullish above 3.39 EUR
My targets
3.71 EUR (+5.10%)
4.21 EUR (+19.26%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CHAINLINK - LINK/EUR as long as the price remains well above 3.39 EUR. The buyers” bullish objective is set at 3.71 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 4.21 EUR. 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
5.9
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 BogdanFl. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CHAINLINK - LINK/EUR rating is 3.53 EUR. The price has increased by +1.15% since the last closing and was traded between 3.48 EUR and 3.54 EUR over the period. The price is currently at +1.44% from its lowest and -0.28% from its highest.3.48
3.54
3.53
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this Daily chart of CHAINLINK - LINK/EUR indicates that the overall trend is strongly bullish. 82.14% 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. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 100
Type : Bearish
Timeframe : Daily
In fact, only 7 technical indicators out of 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Daily
CCI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
RSI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 2.14 | 2.77 | 3.39 | 3.53 | 3.71 | 4.21 |
| Change (%) | -39.38% | -21.53% | -3.97% | - | +5.10% | +19.26% |
| Change | -1.39 | -0.76 | -0.14 | - | +0.18 | +0.68 |
| Level | Minor | Minor | Major | - | Minor | Intermediate |
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 | 2.94 | 3.18 | 3.34 | 3.57 | 3.73 | 3.96 | 4.12 |
| Camarilla | 3.38 | 3.42 | 3.46 | 3.49 | 3.53 | 3.56 | 3.60 |
| Woodie | 2.90 | 3.16 | 3.30 | 3.55 | 3.69 | 3.94 | 4.08 |
| Fibonacci | 3.18 | 3.33 | 3.42 | 3.57 | 3.72 | 3.81 | 3.96 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.58 | 2.84 | 3.16 | 3.42 | 3.74 | 4.00 | 4.32 |
| Camarilla | 3.32 | 3.37 | 3.43 | 3.48 | 3.53 | 3.59 | 3.64 |
| Woodie | 2.61 | 2.85 | 3.19 | 3.43 | 3.77 | 4.02 | 4.35 |
| Fibonacci | 2.84 | 3.06 | 3.20 | 3.42 | 3.64 | 3.78 | 4.00 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.64 | 1.30 | 2.35 | 3.01 | 4.06 | 4.73 | 5.78 |
| Camarilla | 2.93 | 3.08 | 3.24 | 3.40 | 3.56 | 3.71 | 3.87 |
| Woodie | 0.83 | 1.40 | 2.54 | 3.11 | 4.25 | 4.82 | 5.97 |
| Fibonacci | 1.30 | 1.96 | 2.36 | 3.01 | 3.67 | 4.07 | 4.73 |
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): | 53.50 | |
| MACD (12,26,9): | 0.0800 | |
| Directional Movement: | 2.29 | |
| AROON (14): | -14.29 | |
| DEMA (21): | 3.60 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.14 | |
| Elder Ray (13): | -0.01 | |
| Super Trend (3,10): | 3.07 | |
| Zig ZAG (10): | 3.52 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 60.61 | |
| TEMA (21): | 3.56 | |
| Williams %R (14): | -46.09 | |
| Chande Momentum Oscillator (20): | 0.03 | |
| Repulse (5,40,3): | -2.2400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.4100 | |
| Courbe Coppock: | 5.51 |
| MA7: | 3.55 | |
| MA20: | 3.49 | |
| MA50: | 3.25 | |
| MA100: | 3.13 | |
| MAexp7: | 3.54 | |
| MAexp20: | 3.48 | |
| MAexp50: | 3.28 | |
| MAexp100: | 3.03 | |
| Price / MA7: | -0.56% | |
| Price / MA20: | +1.15% | |
| Price / MA50: | +8.62% | |
| Price / MA100: | +12.78% | |
| Price / MAexp7: | -0.28% | |
| Price / MAexp20: | +1.44% | |
| Price / MAexp50: | +7.62% | |
| Price / MAexp100: | +16.50% |
This member declared not having a position on this financial instrument or a related financial instrument.
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