GRAN TIERRA ENERGY INC. - Daily - Technical analysis published on 06/07/2024 (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
67%
6%
28%
My opinion
Bullish above 8.90 USD
My targets
9.90 USD (+6.00%)
10.70 USD (+14.56%)
My analysis
The bullish trend is currently very strong on GRAN TIERRA ENERGY INC.. As long as the price remains above the support at 8.90 USD, you could try to benefit from the boom. The first bullish objective is located at 9.90 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 10.70 USD as an objective. Crossing it would then enable buyers to target 15.04 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GRAN TIERRA ENERGY INC. price is 9.34 USD. The price registered an increase of +0.65% on the session and was traded between 9.02 USD and 9.41 USD over the period. The price is currently at +3.55% from its lowest and -0.74% from its highest.9.02
9.41
9.34
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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
Technical analysis of this Daily chart of GRAN TIERRA ENERGY INC. indicates that the overall trend is strongly bullish. 92.86% 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. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
An assessment of technical indicators shows a moderate bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
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 | 7.09 | 8.33 | 9.32 | 9.34 | 10.70 | 15.04 | 18.99 |
| Change (%) | -24.09% | -10.81% | -0.21% | - | +14.56% | +61.03% | +103.32% |
| Change | -2.25 | -1.01 | -0.02 | - | +1.36 | +5.70 | +9.65 |
| Level | Major | Intermediate | Major | - | Intermediate | 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 | 8.48 | 8.64 | 8.96 | 9.12 | 9.44 | 9.60 | 9.92 |
| Camarilla | 9.15 | 9.19 | 9.24 | 9.28 | 9.32 | 9.37 | 9.41 |
| Woodie | 8.56 | 8.68 | 9.04 | 9.16 | 9.52 | 9.64 | 10.00 |
| Fibonacci | 8.64 | 8.82 | 8.94 | 9.12 | 9.30 | 9.42 | 9.60 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.03 | 8.32 | 8.81 | 9.10 | 9.59 | 9.88 | 10.37 |
| Camarilla | 9.09 | 9.16 | 9.23 | 9.30 | 9.37 | 9.44 | 9.52 |
| Woodie | 8.13 | 8.37 | 8.91 | 9.15 | 9.69 | 9.93 | 10.47 |
| Fibonacci | 8.32 | 8.62 | 8.80 | 9.10 | 9.40 | 9.58 | 9.88 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.70 | 7.30 | 8.30 | 8.90 | 9.90 | 10.50 | 11.50 |
| Camarilla | 8.86 | 9.01 | 9.15 | 9.30 | 9.45 | 9.59 | 9.74 |
| Woodie | 6.90 | 7.40 | 8.50 | 9.00 | 10.10 | 10.60 | 11.70 |
| Fibonacci | 7.30 | 7.91 | 8.29 | 8.90 | 9.51 | 9.89 | 10.50 |
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): | 58.43 | |
| MACD (12,26,9): | 0.1600 | |
| Directional Movement: | 5.29 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 9.22 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.39 | |
| Elder Ray (13): | 0.17 | |
| Super Trend (3,10): | 8.28 | |
| Zig ZAG (10): | 9.36 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 73.79 | |
| TEMA (21): | 9.08 | |
| Williams %R (14): | -10.89 | |
| Chande Momentum Oscillator (20): | 0.20 | |
| Repulse (5,40,3): | 7.2000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2900 | |
| Courbe Coppock: | 2.28 |
| MA7: | 9.08 | |
| MA20: | 9.07 | |
| MA50: | 8.60 | |
| MA100: | 7.09 | |
| MAexp7: | 9.10 | |
| MAexp20: | 8.98 | |
| MAexp50: | 8.43 | |
| MAexp100: | 7.66 | |
| Price / MA7: | +2.86% | |
| Price / MA20: | +2.98% | |
| Price / MA50: | +8.60% | |
| Price / MA100: | +31.73% | |
| Price / MAexp7: | +2.64% | |
| Price / MAexp20: | +4.01% | |
| Price / MAexp50: | +10.79% | |
| Price / MAexp100: | +21.93% |
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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