EDP - Daily - Technical analysis published on 07/11/2022 (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
72%
11%
17%
My opinion
Bullish above 4.555 EUR
My targets
4.809 EUR (+1.86%)
5.192 EUR (+9.98%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EDP as long as the price remains well above 4.555 EUR. The buyers' bullish objective is set at 4.809 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 5.192 EUR. 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
7.7
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Additional analysis
Quotes
EDP rating 4.721 EUR. On the day, this instrument gained +1.77% and was traded between 4.668 EUR and 4.723 EUR over the period. The price is currently at +1.14% from its lowest and -0.04% from its highest.4.668
4.723
4.721
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
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 EDP indicates that the overall trend is strongly bullish. 89.29% 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 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:
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 : Daily
SuperTrend indicator bullish reversal
Type : Bullish
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 horizontal resistance
Type : Bearish
Timeframe : Daily
Near resistance of channel
Type : Bearish
Timeframe : Daily
Resistance of triangle is broken
Type : Bullish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 4.334 | 4.555 | 4.680 | 4.721 | 4.809 | 5.192 |
| Change (%) | -8.20% | -3.52% | -0.87% | - | +1.86% | +9.98% |
| Change | -0.387 | -0.166 | -0.041 | - | +0.088 | +0.471 |
| Level | Major | Intermediate | Intermediate | - | Major | 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 | 4.528 | 4.568 | 4.604 | 4.644 | 4.680 | 4.720 | 4.756 |
| Camarilla | 4.618 | 4.625 | 4.632 | 4.639 | 4.646 | 4.653 | 4.660 |
| Woodie | 4.525 | 4.567 | 4.601 | 4.643 | 4.677 | 4.719 | 4.753 |
| Fibonacci | 4.568 | 4.597 | 4.615 | 4.644 | 4.673 | 4.691 | 4.720 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.336 | 4.415 | 4.527 | 4.606 | 4.718 | 4.797 | 4.909 |
| Camarilla | 4.587 | 4.604 | 4.622 | 4.639 | 4.657 | 4.674 | 4.692 |
| Woodie | 4.353 | 4.423 | 4.544 | 4.614 | 4.735 | 4.805 | 4.926 |
| Fibonacci | 4.415 | 4.488 | 4.533 | 4.606 | 4.679 | 4.724 | 4.797 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.712 | 3.989 | 4.221 | 4.498 | 4.730 | 5.007 | 5.239 |
| Camarilla | 4.312 | 4.359 | 4.405 | 4.452 | 4.499 | 4.545 | 4.592 |
| Woodie | 3.689 | 3.978 | 4.198 | 4.487 | 4.707 | 4.996 | 5.216 |
| Fibonacci | 3.989 | 4.184 | 4.304 | 4.498 | 4.693 | 4.813 | 5.007 |
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): | 58.03 | |
| MACD (12,26,9): | 0.0210 | |
| Directional Movement: | 6.785 | |
| AROON (14): | 92.857 | |
| DEMA (21): | 4.593 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.461 | |
| Elder Ray (13): | 0.106 | |
| Super Trend (3,10): | 4.357 | |
| Zig ZAG (10): | 4.703 | |
| VORTEX (21): | 0.9860 | |
| Stochastique (14,3,5): | 90.98 | |
| TEMA (21): | 4.601 | |
| Williams %R (14): | -3.80 | |
| Chande Momentum Oscillator (20): | 0.270 | |
| Repulse (5,40,3): | 0.9870 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0160 | |
| Courbe Coppock: | 6.14 |
| MA7: | 4.614 | |
| MA20: | 4.525 | |
| MA50: | 4.559 | |
| MA100: | 4.380 | |
| MAexp7: | 4.615 | |
| MAexp20: | 4.574 | |
| MAexp50: | 4.534 | |
| MAexp100: | 4.469 | |
| Price / MA7: | +2.32% | |
| Price / MA20: | +4.33% | |
| Price / MA50: | +3.55% | |
| Price / MA100: | +7.79% | |
| Price / MAexp7: | +2.30% | |
| Price / MAexp20: | +3.21% | |
| Price / MAexp50: | +4.12% | |
| Price / MAexp100: | +5.64% |
Quotes :
-
15 min delayed data
-
Euronext Lisbonne
News
The latest news and videos published on EDP at the time of the analysis were as follows:
- Parade Technologies Announces World’s First Integrated Display eDP Timing Controller with Embedded Source Drivers and Touchscreen Controller for Notebook LTPS and Oxide In-Cell Panels
- EDP Partners with Vodafone Portugal and TechSee to Launch Visual Assistance for Customers and Field Technicians
- NIPSCO, EDP Renewables to Bring Indiana Crossroads II Wind Farm and Indiana Crossroads Solar Park to Northwest Indiana
- EdpFinance B.V. - Half Year Report 2020
- Parade Introduces New eDP Tcons and Source Drivers Optimized for HDR Gaming Displays up to UHD Resolution
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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