EDP - Daily - Technical analysis published on 08/10/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
28%
39%
My opinion
Bearish under 4.394 EUR
My targets
4.065 EUR (-3.44%)
3.905 EUR (-7.24%)
My analysis
EDP 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 4.394 EUR. The next support located at 4.065 EUR 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 3.905 EUR. Below this support, sellers could then target 3.528 EUR. 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 not called into question, despite technical indicators being neutral.
Force
0
10
5.9
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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 EDP price is 4.210 EUR. On the day, this instrument gained +1.13% and was traded between 4.171 EUR and 4.213 EUR over the period. The price is currently at +0.94% from its lowest and -0.07% from its highest.4.171
4.213
4.210
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EDP in Daily shows a overall strongly bearish trend. 92.86% 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.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 3.905 | 4.065 | 4.179 | 4.210 | 4.394 | 4.633 | 4.996 |
| Change (%) | -7.24% | -3.44% | -0.74% | - | +4.37% | +10.05% | +18.67% |
| Change | -0.305 | -0.145 | -0.031 | - | +0.184 | +0.423 | +0.786 |
| Level | Major | Major | Major | - | Intermediate | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.079 | 4.106 | 4.134 | 4.161 | 4.189 | 4.216 | 4.244 |
| Camarilla | 4.148 | 4.153 | 4.158 | 4.163 | 4.168 | 4.173 | 4.178 |
| Woodie | 4.081 | 4.106 | 4.136 | 4.161 | 4.191 | 4.216 | 4.246 |
| Fibonacci | 4.106 | 4.127 | 4.140 | 4.161 | 4.182 | 4.195 | 4.216 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.681 | 3.855 | 3.976 | 4.150 | 4.271 | 4.445 | 4.566 |
| Camarilla | 4.016 | 4.043 | 4.070 | 4.097 | 4.124 | 4.151 | 4.178 |
| Woodie | 3.655 | 3.842 | 3.950 | 4.137 | 4.245 | 4.432 | 4.540 |
| Fibonacci | 3.855 | 3.968 | 4.037 | 4.150 | 4.263 | 4.332 | 4.445 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.812 | 4.010 | 4.130 | 4.328 | 4.448 | 4.646 | 4.766 |
| Camarilla | 4.163 | 4.192 | 4.221 | 4.250 | 4.279 | 4.308 | 4.338 |
| Woodie | 3.773 | 3.991 | 4.091 | 4.309 | 4.409 | 4.627 | 4.727 |
| Fibonacci | 4.010 | 4.132 | 4.207 | 4.328 | 4.450 | 4.525 | 4.646 |
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): | 44.37 | |
| MACD (12,26,9): | -0.0770 | |
| Directional Movement: | -10.548 | |
| AROON (14): | -28.572 | |
| DEMA (21): | 4.127 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.316 | |
| Elder Ray (13): | -0.002 | |
| Super Trend (3,10): | 4.315 | |
| Zig ZAG (10): | 4.207 | |
| VORTEX (21): | 0.8810 | |
| Stochastique (14,3,5): | 35.69 | |
| TEMA (21): | 4.123 | |
| Williams %R (14): | -56.20 | |
| Chande Momentum Oscillator (20): | -0.057 | |
| Repulse (5,40,3): | 1.4080 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.2710 | |
| Courbe Coppock: | 6.97 |
| MA7: | 4.126 | |
| MA20: | 4.230 | |
| MA50: | 4.412 | |
| MA100: | 4.601 | |
| MAexp7: | 4.168 | |
| MAexp20: | 4.233 | |
| MAexp50: | 4.375 | |
| MAexp100: | 4.482 | |
| Price / MA7: | +2.04% | |
| Price / MA20: | -0.47% | |
| Price / MA50: | -4.58% | |
| Price / MA100: | -8.50% | |
| Price / MAexp7: | +1.01% | |
| Price / MAexp20: | -0.54% | |
| Price / MAexp50: | -3.77% | |
| Price / MAexp100: | -6.07% |
Quotes :
-
15 min delayed data
-
Euronext Lisbonne
News
The last news published on EDP at the time of the generation of this analysis was 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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