SUMMIT MATERIALS INC. CLASS A - Daily - Technical analysis published on 12/27/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
SUMMIT MATERIALS INC. CLASS A Chart
Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 21.90 USD
My targets
25.65 USD (+6.88%)
28.59 USD (+19.13%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on SUMMIT MATERIALS INC. CLASS A as long as the price remains well above 21.90 USD. The buyers” bullish objective is set at 25.65 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 28.59 USD. If there is any crossing, the next objective would be the resistance located at 33.66 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
7.1
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This analysis was given by Vincent Launay.
Additional analysis
Quotes
The SUMMIT MATERIALS INC. CLASS A price is 24.00 USD. The price registered a decrease of -0.50% on the session and was traded between 23.72 USD and 24.09 USD over the period. The price is currently at +1.18% from its lowest and -0.37% from its highest.23.72
24.09
24.00
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
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:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this SUMMIT MATERIALS INC. CLASS A chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
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
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
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 | 15.81 | 18.16 | 21.90 | 24.00 | 24.20 | 25.65 | 28.59 |
| Change (%) | -34.13% | -24.33% | -8.75% | - | +0.83% | +6.88% | +19.13% |
| Change | -8.19 | -5.84 | -2.10 | - | +0.20 | +1.65 | +4.59 |
| Level | Minor | Major | Major | - | 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 | 23.01 | 23.32 | 23.72 | 24.03 | 24.43 | 24.74 | 25.14 |
| Camarilla | 23.93 | 23.99 | 24.06 | 24.12 | 24.19 | 24.25 | 24.32 |
| Woodie | 23.06 | 23.34 | 23.77 | 24.05 | 24.48 | 24.76 | 25.19 |
| Fibonacci | 23.32 | 23.59 | 23.76 | 24.03 | 24.30 | 24.47 | 24.74 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.46 | 21.46 | 23.21 | 24.21 | 25.96 | 26.96 | 28.71 |
| Camarilla | 24.19 | 24.45 | 24.70 | 24.95 | 25.20 | 25.45 | 25.71 |
| Woodie | 20.83 | 21.65 | 23.58 | 24.40 | 26.33 | 27.15 | 29.08 |
| Fibonacci | 21.46 | 22.51 | 23.16 | 24.21 | 25.26 | 25.91 | 26.96 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.00 | 20.22 | 22.06 | 23.28 | 25.12 | 26.34 | 28.18 |
| Camarilla | 23.06 | 23.34 | 23.62 | 23.90 | 24.18 | 24.46 | 24.74 |
| Woodie | 19.31 | 20.38 | 22.37 | 23.44 | 25.43 | 26.50 | 28.49 |
| Fibonacci | 20.22 | 21.39 | 22.11 | 23.28 | 24.45 | 25.17 | 26.34 |
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): | 54.44 | |
| MACD (12,26,9): | 0.2400 | |
| Directional Movement: | 2.16 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 23.94 | |
| Parabolic SAR (0,02-0,02-0,2): | 22.71 | |
| Elder Ray (13): | 0.13 | |
| Super Trend (3,10): | 22.94 | |
| Zig ZAG (10): | 24.00 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 59.33 | |
| TEMA (21): | 24.00 | |
| Williams %R (14): | -38.36 | |
| Chande Momentum Oscillator (20): | 1.11 | |
| Repulse (5,40,3): | 0.8200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0900 | |
| Courbe Coppock: | 2.81 |
| MA7: | 24.18 | |
| MA20: | 23.59 | |
| MA50: | 23.27 | |
| MA100: | 22.22 | |
| MAexp7: | 23.97 | |
| MAexp20: | 23.65 | |
| MAexp50: | 23.15 | |
| MAexp100: | 22.07 | |
| Price / MA7: | -0.74% | |
| Price / MA20: | +1.74% | |
| Price / MA50: | +3.14% | |
| Price / MA100: | +8.01% | |
| Price / MAexp7: | +0.13% | |
| Price / MAexp20: | +1.48% | |
| Price / MAexp50: | +3.67% | |
| Price / MAexp100: | +8.74% |
News
The latest news and videos published on SUMMIT MATERIALS INC. CLASS A at the time of the analysis were as follows:
- Summit Materials Announces Organizational Change
- Report: Developing Opportunities within Pitney Bowes, Alteryx, Summit Materials, MasTec, Lantheus, and Hudson Pacific Properties — Future Expectations, Projections Moving into 2018
- FMI Represents Midwest Minerals in Sale to Summit Materials
- Summit Materials, Inc. Class A to Host Earnings Call
- Summit Materials, Inc. Class A to Host Earnings Call
This member declared not having a position on this financial instrument or a related financial instrument.
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