METHODE ELECTRONICS INC. - 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 bearish
De fond:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 34.94 USD
My targets
30.40 USD (-8.41%)
28.89 USD (-12.96%)
My analysis
METHODE ELECTRONICS INC. 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 34.94 USD. The next support located at 30.40 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 28.89 USD. Below this support, sellers could then target 27.30 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.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
FORCE
0
10
6.8
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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 METHODE ELECTRONICS INC. price is 33.19 USD. On the day, this instrument lost -0.33% with the lowest point at 32.93 USD and the highest point at 33.29 USD. The deviation from the price is +0.79% for the low point and -0.30% for the high point.32.93
33.29
33.19
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by METHODE ELECTRONICS INC.:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of METHODE ELECTRONICS INC. in Daily shows a overall strongly bearish trend. 85.71% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
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 support of channel
Type : Bullish
Timeframe : Daily
Near support of triangle
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 | 27.30 | 28.89 | 30.40 | 33.19 | 33.32 | 37.20 | 39.05 |
| Change (%) | -17.75% | -12.96% | -8.41% | - | +0.39% | +12.08% | +17.66% |
| Change | -5.89 | -4.30 | -2.79 | - | +0.13 | +4.01 | +5.86 |
| Level | Minor | Minor | Major | - | Minor | Major | 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 | 32.08 | 32.54 | 32.92 | 33.38 | 33.76 | 34.22 | 34.60 |
| Camarilla | 33.07 | 33.15 | 33.22 | 33.30 | 33.38 | 33.45 | 33.53 |
| Woodie | 32.04 | 32.52 | 32.88 | 33.36 | 33.72 | 34.20 | 34.56 |
| Fibonacci | 32.54 | 32.86 | 33.06 | 33.38 | 33.70 | 33.90 | 34.22 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.08 | 32.04 | 32.67 | 33.63 | 34.26 | 35.22 | 35.85 |
| Camarilla | 32.86 | 33.01 | 33.15 | 33.30 | 33.45 | 33.59 | 33.74 |
| Woodie | 30.92 | 31.96 | 32.51 | 33.55 | 34.10 | 35.14 | 35.69 |
| Fibonacci | 32.04 | 32.65 | 33.02 | 33.63 | 34.24 | 34.61 | 35.22 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.56 | 28.09 | 30.42 | 34.94 | 37.28 | 41.80 | 44.13 |
| Camarilla | 30.86 | 31.49 | 32.12 | 32.75 | 33.38 | 34.01 | 34.64 |
| Woodie | 22.47 | 27.54 | 29.32 | 34.39 | 36.18 | 41.25 | 43.04 |
| Fibonacci | 28.09 | 30.71 | 32.32 | 34.94 | 37.56 | 39.18 | 41.80 |
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): | 26.87 | |
| MACD (12,26,9): | -1.4000 | |
| Directional Movement: | -28.52 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 33.89 | |
| Parabolic SAR (0,02-0,02-0,2): | 34.26 | |
| Elder Ray (13): | -1.65 | |
| Super Trend (3,10): | 35.85 | |
| Zig ZAG (10): | 33.19 | |
| VORTEX (21): | 0.6600 | |
| Stochastique (14,3,5): | 13.20 | |
| TEMA (21): | 32.79 | |
| Williams %R (14): | -90.46 | |
| Chande Momentum Oscillator (20): | -4.91 | |
| Repulse (5,40,3): | -2.0900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.4300 | |
| Courbe Coppock: | 24.50 |
| MA7: | 33.55 | |
| MA20: | 36.15 | |
| MA50: | 37.89 | |
| MA100: | 36.18 | |
| MAexp7: | 33.89 | |
| MAexp20: | 35.55 | |
| MAexp50: | 36.61 | |
| MAexp100: | 35.71 | |
| Price / MA7: | -1.07% | |
| Price / MA20: | -8.19% | |
| Price / MA50: | -12.40% | |
| Price / MA100: | -8.26% | |
| Price / MAexp7: | -2.07% | |
| Price / MAexp20: | -6.64% | |
| Price / MAexp50: | -9.34% | |
| Price / MAexp100: | -7.06% |
News
The last news published on METHODE ELECTRONICS INC. at the time of the generation of this analysis was as follows:
- Methode Electronics, Inc. Adds OhioHealth Retired CEO David Blom and Marmon Chairman and CEO Angelo Pantaleo to its Board of Directors
- Methode Electronics’ Board Approves Dividend
- Methode Electronics, Inc. Reports Fiscal 2020 Second-Quarter Results and Reaffirms Full Year EPS Guidance
- Methode Electronics to Announce Second-Quarter Fiscal 2020 Results on Thursday, December 5, 2019
- Methode Electronics to Present at the Baird 2019 Global Industrial Conference
This member declared not having a position on this financial instrument or a related financial instrument.
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