FRONTLINE PLC - Daily - Technical analysis published on 02/04/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 8.78 USD
My targets
8.11 USD (-5.62%)
7.22 USD (-15.95%)
My analysis
In the short term, we can see an acceleration in the bearish trend on FRONTLINE, which is a positive signal for sellers. As long as the price remains above 8.78 USD, a sale could be considered. The first bearish objective is located at 8.11 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 7.22 USD as an objective. Crossing it would then enable sellers to target 6.09 USD. If the price were to return above 8.78 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
FORCE
0
10
6.3
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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 FRONTLINE rating is 8.59 USD. The price is lower by -1.94% since the last closing and was traded between 8.53 USD and 8.78 USD over the period. The price is currently at +0.70% from its lowest and -2.16% from its highest.8.53
8.78
8.59
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
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:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
Technical analysis of this Daily chart of FRONTLINE indicates that the overall trend is bearish. The signals given by moving averages are 78.57% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 100
Type : Bearish
Timeframe : Daily
In fact, 12 technical indicators on 18 studied are currently positioned bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
CCI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 4.89 | 6.09 | 7.22 | 8.59 | 8.78 | 9.48 | 10.26 |
| Change (%) | -43.07% | -29.10% | -15.95% | - | +2.21% | +10.36% | +19.44% |
| Change | -3.70 | -2.50 | -1.37 | - | +0.19 | +0.89 | +1.67 |
| Level | Minor | Major | Intermediate | - | Major | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.90 | 8.29 | 8.53 | 8.92 | 9.16 | 9.55 | 9.79 |
| Camarilla | 8.59 | 8.64 | 8.70 | 8.76 | 8.82 | 8.88 | 8.93 |
| Woodie | 7.82 | 8.25 | 8.45 | 8.88 | 9.08 | 9.51 | 9.71 |
| Fibonacci | 8.29 | 8.53 | 8.68 | 8.92 | 9.16 | 9.31 | 9.55 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.22 | 7.45 | 8.11 | 9.34 | 10.00 | 11.23 | 11.89 |
| Camarilla | 8.24 | 8.41 | 8.59 | 8.76 | 8.93 | 9.11 | 9.28 |
| Woodie | 5.93 | 7.31 | 7.82 | 9.20 | 9.71 | 11.09 | 11.60 |
| Fibonacci | 7.45 | 8.18 | 8.62 | 9.34 | 10.07 | 10.51 | 11.23 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.55 | 5.62 | 7.19 | 10.26 | 11.83 | 14.90 | 16.47 |
| Camarilla | 7.48 | 7.91 | 8.34 | 8.76 | 9.19 | 9.61 | 10.04 |
| Woodie | 1.80 | 5.25 | 6.44 | 9.89 | 11.08 | 14.53 | 15.72 |
| Fibonacci | 5.62 | 7.39 | 8.49 | 10.26 | 12.03 | 13.13 | 14.90 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 21.07 | |
| MACD (12,26,9): | -0.7500 | |
| Directional Movement: | -39.21 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 10.13 | |
| Parabolic SAR (0,02-0,02-0,2): | 10.42 | |
| Elder Ray (13): | -1.78 | |
| Super Trend (3,10): | 10.29 | |
| Zig ZAG (10): | 8.59 | |
| VORTEX (21): | 0.5400 | |
| Stochastique (14,3,5): | 3.83 | |
| TEMA (21): | 9.27 | |
| Williams %R (14): | -98.56 | |
| Chande Momentum Oscillator (20): | -3.34 | |
| Repulse (5,40,3): | -7.6200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3700 | |
| Courbe Coppock: | 45.59 |
| MA7: | 9.78 | |
| MA20: | 11.47 | |
| MA50: | 11.55 | |
| MA100: | 10.72 | |
| MAexp7: | 9.70 | |
| MAexp20: | 10.89 | |
| MAexp50: | 11.19 | |
| MAexp100: | 10.63 | |
| Price / MA7: | -12.17% | |
| Price / MA20: | -25.11% | |
| Price / MA50: | -25.63% | |
| Price / MA100: | -19.87% | |
| Price / MAexp7: | -11.44% | |
| Price / MAexp20: | -21.12% | |
| Price / MAexp50: | -23.24% | |
| Price / MAexp100: | -19.19% |
News
The latest news and videos published on FRONTLINE at the time of the analysis were as follows:
- FRO - Q3 2019 Presentation
- FRO - Third Quarter and Nine Months 2019 Results
- FRO - Invitation to Q3 2019 Results Conference Call and Webcast
- FRO - Extension of Senior Unsecured revolving $275.0 Million Credit Facility to May 2021
- FRO - FMSI Business Combined
This member declared not having a position on this financial instrument or a related financial instrument.
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