GRAN TIERRA ENERGY INC. - Daily - Technical analysis published on 03/25/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 6.26 USD
My targets
7.09 USD (+2.90%)
7.36 USD (+6.82%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GRAN TIERRA ENERGY INC. as long as the price remains well above 6.26 USD. The buyers' bullish objective is set at 7.09 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.36 USD. If there is any crossing, the next objective would be the resistance located at 10.70 USD. 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
8.2
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GRAN TIERRA ENERGY INC. rating 6.89 USD. The price registered an increase of +3.92% on the session with the lowest point at 6.61 USD and the highest point at 6.92 USD. The deviation from the price is +4.24% for the low point and -0.43% for the high point.6.61
6.92
6.89
A study of price movements over other periods shows the following variations:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this GRAN TIERRA ENERGY INC. chart shows a strongly bullish trend. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.65 | 6.08 | 6.88 | 6.89 | 7.09 | 10.70 | 15.04 |
| Change (%) | -18.00% | -11.76% | -0.15% | - | +2.90% | +55.30% | +118.29% |
| Change | -1.24 | -0.81 | -0.01 | - | +0.20 | +3.81 | +8.15 |
| Level | Major | Major | Minor | - | Intermediate | Intermediate | 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 | 6.48 | 6.53 | 6.58 | 6.63 | 6.68 | 6.73 | 6.78 |
| Camarilla | 6.60 | 6.61 | 6.62 | 6.63 | 6.64 | 6.65 | 6.66 |
| Woodie | 6.48 | 6.53 | 6.58 | 6.63 | 6.68 | 6.73 | 6.78 |
| Fibonacci | 6.53 | 6.57 | 6.59 | 6.63 | 6.67 | 6.69 | 6.73 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.80 | 6.01 | 6.32 | 6.53 | 6.84 | 7.05 | 7.36 |
| Camarilla | 6.49 | 6.54 | 6.58 | 6.63 | 6.68 | 6.73 | 6.77 |
| Woodie | 5.85 | 6.04 | 6.37 | 6.56 | 6.89 | 7.08 | 7.41 |
| Fibonacci | 6.01 | 6.21 | 6.33 | 6.53 | 6.73 | 6.85 | 7.05 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.94 | 4.40 | 4.87 | 5.33 | 5.80 | 6.26 | 6.73 |
| Camarilla | 5.09 | 5.18 | 5.27 | 5.35 | 5.44 | 5.52 | 5.61 |
| Woodie | 3.96 | 4.40 | 4.89 | 5.33 | 5.82 | 6.26 | 6.75 |
| Fibonacci | 4.40 | 4.75 | 4.97 | 5.33 | 5.68 | 5.90 | 6.26 |
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): | 77.59 | |
| MACD (12,26,9): | 0.3600 | |
| Directional Movement: | 34.62 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 6.53 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.35 | |
| Elder Ray (13): | 0.46 | |
| Super Trend (3,10): | 6.11 | |
| Zig ZAG (10): | 6.88 | |
| VORTEX (21): | 1.2200 | |
| Stochastique (14,3,5): | 94.49 | |
| TEMA (21): | 6.78 | |
| Williams %R (14): | -2.14 | |
| Chande Momentum Oscillator (20): | 1.13 | |
| Repulse (5,40,3): | 7.2700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.7000 | |
| Courbe Coppock: | 38.94 |
| MA7: | 6.56 | |
| MA20: | 5.96 | |
| MA50: | 5.50 | |
| MA100: | 5.75 | |
| MAexp7: | 6.55 | |
| MAexp20: | 6.11 | |
| MAexp50: | 5.78 | |
| MAexp100: | 5.82 | |
| Price / MA7: | +5.03% | |
| Price / MA20: | +15.60% | |
| Price / MA50: | +25.27% | |
| Price / MA100: | +19.83% | |
| Price / MAexp7: | +5.19% | |
| Price / MAexp20: | +12.77% | |
| Price / MAexp50: | +19.20% | |
| Price / MAexp100: | +18.38% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
News
The latest news and videos published on GRAN TIERRA ENERGY INC. at the time of the analysis were as follows:
- Gran Tierra Energy Inc. Completes Reverse Stock Split
- Gran Tierra Energy Inc. Announces Reverse Stock Split
- Gran Tierra Energy Announces Final Voting Results of its Annual Meeting of Stockholders
- Gran Tierra Energy Announces Final Voting Results of its Annual Meeting of Stockholders
- Gran Tierra Energy Inc. Announces First Quarter 2023 Results
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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